Binance Australia Users Selling Bitcoin (BTC) A$9000 At Discount, Know Why
Amid some strong regulatory measures recently, Binance Australia users are liquidating their BTC at A$9,000 discount over rival exchanges.
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It seems that users of Binance Australia were in a rush to exit their positions. The Bitcoin (BTC_ price on Binance Australia was trading at around A$34,000($23,062.20). At the same time, its price on other Australia-based crypto exchanges BTC Markets was $43,000, reported Reuters. As of press time, Bitcoin (BTC) is trading 1% down at a price of $27,725 and a market cap of $537 billion.
Binance faced disruptions in Australia as a third-party service provider halted its services, resulting in limited deposit and withdrawal options for some customers. The company’s regulatory challenges worldwide led to the closure of its Australian derivatives business. As a result, Binance also had to relinquish its financial services license.
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