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People outside the UK: Binance broke UK law by selling OTC crypto derivatives after they were made illegal. This is why British people see all those “did you u
by nailer 4y ago
People outside the UK: Binance broke UK law by selling OTC crypto derivatives after they were made illegal.
This is why British people see all those “did you use Binance product X after Y date?” ads online. There's a bunch of people taking legal action against Binance UK.
- TebiObiZA 4y agoWhat are OTC crypto derivates? How do they work?
- nailer 4y agoOTC derivates is selling derivates (not direct instruments like tokens or equities or real estate, but rather instruments whose value is derived from a combination of a base instrument and other features, like an expiration date or a target price) to regular people over the counter (OTC). Derivatives are way more volatile than base instruments, and since crypto is already volatile as a base instrument, crypto derivates are VERY volatile.