Banc De Binary decides to retract CTFC Press Release

Last month we announced that Banc De Binary had entered into talks with the US regulators regarding the regulation of Binary Options in America. Back then we expressed doubts over whether Banc De Binary could become regulated by the CTFC offering Binary Options in the format they currently offer on their platform and it appears that CTFC replied the same kind of answer that we expected them to give. Back then they announced they wouldn’t be accepting anymore US Clients but in this latest statement their position seems to have taken another change: 

“BDB’s representatives issued a press release on January 25, 2013 regarding its operations in the United States. BDB retracts the press release. The release was inaccurate in several respects. BDB has been advised by the CFTC that it is not permitted to market binary options to United States persons. Thus, BDB will not take orders from United States persons. BDB intends to abide by all laws regulations and hopes to obtain permission to do business in the United States. Until then, BDB will not be permitted to offer its products to United States customers. Please check back on our website periodically for updates. Thank you for your patience.”

It appears that Banc De Binary will no longer accept any more orders from customers in the United States, I presume this means that US Clients will only be able to withdraw money from their accounts and will be prevented from placing anymore trades. It appears that the CTFC were pretty resounding with their rejection of Banc De Binary’s inquiry regarding regulation and  they have therefore decided to completely exit the US marketplace before they are possibly brought to court like other firms such Instaforex. 

In exactly what way the original press statement was inaccurate isn’t really properly answered in Banc De Binary’s further statement and just makes Banc De Binary appear rather foolish. It thus appears that Nadex type offerings are going to be the only type of Binary Options offered in America for the foreseeable future.

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