Binance, a leading cryptocurrency exchange, has announced significant updates to its Managed Sub-account (MSA) function, which will take effect from July 1, 2024. According to Binance, these changes aim to ensure an optimal user experience and maintain platform efficiency.
Key Highlights
The update introduces several new regulations and fees for MSAs, which are sub-accounts managed by trading teams under a master account. The main highlights are:
- Minimum Asset Requirement: Each MSA must maintain an account balance of at least 100,000 USD worth of assets at all times.
- Exclusion from Rebates and Discounts: MSAs will be excluded from receiving liquidity provider program rebates and any taker program discounts.
- New MSA Fee: A fee will be charged to the trading team based on the total asset value or trading volume of all MSAs under the trading team.