Binance Futures has announced that it would limit the leverage accessible to new users to a maximum of 20x. This new policy is already in effect having been implemented since July 19. This was 7 days ago as stated by Binance, CEO Changpeng Zhao (CZ). This has become necessary to limit the exposure of new investors in line with investment best practice.
In making the announcement, the exchange highlighted that it had no intention of making a big deal out of the new policy, but stated that consumer protection was at the heart of the implementation.
CZ further stated that this new restriction on leverages will be applied to older users down the line, alluding to the likelihood that existing Binance traders on the Futures market would have access to smaller exposure in terms of leverage in coming weeks.
.@binance futures started limiting new users to max 20x leverage last Monday, Jul 19th, 7 days ago. (We didn’t want to make this a thingy).
In the interest of Consumer Protection, we will apply this to existing users progressively over the next few weeks.
Stay #SAFU. 🙏
— CZ 🔶 Binance (@cz_binance) July 26, 2021
