That the Bank of Spain and the National Securities Market Commission They have been scrutinizing Binance’s moves for some time now it’s not news. We have already seen previous moves, such as disapproval of promotions carried out by the platform, but this is now a minor movement compared to the regulatory framework that these services will have to face, both in Spain and at the European level.

Thus, by placing the Band-Aid before the morning, Binance took a very important step start restricting futures, derivatives and leveraged token operations in Spain. By adopting this measure, the opening of new positions is not allowed from its very communication, and a system of conditions is set so that investors who already had investments of this type can close them properly.

The period from the notification is 90 days, after which the clients will no longer be able to maintain them, so the platform itself will gradually close them, We understand that regardless of market conditions at any particular moment, so we can expect shutdowns that could be very burdensome for its users.

This is not, as suggested, something that comes as a huge surprise. Actually Already last May, the CNMV issued a ban on the sale of derivatives with cryptocurrencies to Binance, which resulted in the platform no longer displaying trades of this type. However, both futures and leveraged token trading appeared to be out of the equation. And the same with previously open positions.

With this step Binance is closer than ever to getting carte blanche from the Spanish regulator, which has kept the platform on the gray list until now. In addition, they have also applied for a license from the Bank of Spain to fully regulate their activities in Spain, which until now have been immersed in a gray area, a common feature of the new economy that has emerged around blockchain.

This is undoubtedly bad news for cryptocurrency investors who are interested in this type of investment, and even more so for those who already have open positions in futures and derivatives. However, and in the face of a regulatory framework that aims to become more demanding every day, the responses from the platforms in this regard are ultimately: a step towards controlled normalization that seems more necessary every day.

The big question isHow Binance clients will now react with futures and derivatives. At a time when the position of cryptocurrencies is relatively weak, reactions can be very heterogeneous: from a positive impulse when read as an adaptation for regularization to a negative impulse, when the operations that can be performed are more limited. with cryptocurrencies.

what will be next? It makes sense to expect other platforms are following Binance’s footsteps, and therefore this restriction is generalized, at least in the case of services that want to operate in Spain with the approval of the Bank of Spain and the National Securities Market Commission. So, investors who currently have open positions in cryptocurrency futures and/or derivatives would do well to review their position and determine if it is the best time to close them… as they may not have much more time to do so.