Published 1 year ago

Australian Markets Regulator Is Reviewing Binance Australia's Derivatives Services

Summary by Ground News

Binance Australia Derivatives sent an abrupt message to a select group of users on Feb. 23. It said it would be immediately closing their accounts due to a false classification of some users as wholesale clients. This incident caused a flurry of responses from users on social media. The next day, the Australian Securities and Investments Commission (ASIC) announced a review of Binance's local derivatives operations.

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The West Australian

ASIC reviews Binance’s local derivatives business

The Australian Securities and Investments Commission is conducting a “targeted review” of the local derivatives business of Binance, the world’s largest crypto exchange.

1 year ago

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Bloomberg

Australia’s ASIC Reviewing Binance’s Local Derivatives Business

The Australian Securities and Investments Commission said it’s conducting a “targeted review” of the local derivatives business of Binance, the world’s largest crypto exchange.

1 year ago·United States

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Gulf News

Binance Australia derivatives business reviewed by regulator

Binance incorrectly classed a group of Australian consumers as wholesale investors

1 year ago·Dubai, United Arab Emirates

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Cointelegraph

Aussie regulators review Binance Australia Derivatives over account closures

The Australian Securities and Investments Commission will conduct a “targeted review,” including the company’s “classification of retail and wholesale clients.”

1 year ago

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