Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Crypto exchanges appear to be cracking down on who is eligible for the discounted trading fees they offer to their largest customers.Cryptocurrency exchanges are cracking down on brokerages that bundle clients' orders to enjoy lower, VIP trading fees.
"A failure to do so may result in undisclosed subaccounts being restricted from trading and/or subaccount closure," the letter said., effectively closing a loophole that let prime brokers use a multitiered fee system to offer rebates to clients. Binance said the measure was"to uphold compliance and ensure a level-playing field for all users, whether they access Binance directly or via an intermediary." That news was first reported by Bloomberg.
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