The corporate regulator is suing crypto firm Binance Australia Derivatives for alleged consumer protection failures. Australian stocks swung between gains and losses but finished in the red.

ABC Australia

Australia

Crypto firm Binance Australia sued by ASIC, ASX slips — as it happened

Media Bias/Fact Check

Australian Government

Australia’s corporate watchdog is suing the local arm of global crypto giant Binance after more than 500 retail clients were “denied important consumer protections”.

The West Australian

Kerry Stokes

Crypto giant sued over alleged consumer protection failures

The post Binance Australia faces ASIC lawsuit over consumer protection breaches appeared first on Daily Truth Report • DailyTruthReport.com.

Cointelegraph

Binance Australia faces ASIC lawsuit over consumer protection breaches

Binance Australia staff were allegedly incompetent and misclassified hundreds of mum and dad investors as “sophisticated”, exposing them to risky investments.

Australian Financial Review

Nine Entertainment Co.

Sydney

New South Wales

Binance sued over dodgy test that cost investors $13.1m

Australia's corporate watchdog said on Wednesday that it has sued the local derivatives business of cryptocurrency exchange Binance, alleging that …

Cryptocurrency News | Cryptocurrency Prices | Market Cap

Australia takes Binance unit to court over consumer protection failures

The ASIC lawsuit highlights significant regulatory concerns regarding Binance's classification practices. Retail investors were allegedly denied essential information regarding crypto derivative products. Continue Reading:ASIC Files Lawsuit Against Binance Australia for Misclassification of Clients The post ASIC Files Lawsuit Against Binance Australia for Misclassification of Clients appeared first on COINTURK NEWS.

coinstats.app

CoinStats - ASIC Files Lawsuit Against Binance Australia ...

AUSTRALIA’S corporate watchdog said on Wednesday that it has sued the local derivatives business of cryptocurrency exchange Binance, alleging that its retail customers...

Business Times

Australia takes Binance unit to court over consumer protection failures

The
Australian Securities and Investments Commission (ASIC) has launched legal
proceedings against Binance Australia Derivatives for allegedly misclassifying
over 500 retail investors as wholesale clients, denying them crucial consumer
protections.Binance Australia Faces
Federal Court Battle The
regulator alleges that between July 2022 and April 2023, Binance Australia
Derivatives, a subsidiary of the world's largest cryptocurrency exchange,
inc…

Finance Magnates | Financial and business news

ASIC Claims Binance Misclassified 83% of Australian Client Base, Takes It To Court

ASIC sued Binance Australia Derivatives for not protecting consumer information.  Binance reportedly misclassified retail investors as wholesale clients.   ASIC filed a lawsuit in the Federal Court complaining that Binance is not focusing on its consumers’ protection. Based on the latest media release from its organization, more than 500 retail clients were misclassified and treated as wholesale clients. In the middle of a booming crypto market,…

TheNewsCrypto - Blockchain & Cryptocurreny News Media | Crypto Guide

ASIC Sues Binance Australia Derivatives For Consumer Protection Failure

Binance offered crypto derivative products to over 500 Australian retail investors who were misclassified as wholesale clients. 		
			
				To continue reading...  
	
		
		Sign in 
			 
				  
			    Password *   
				  
					 Remember me   
				Lost your password?    
	
	        Subscribe 
		Subscribe to Regulation Asia to gain access to APAC’s leading platform for news, analysis, research and verified data on financial regulation. Select More I…

Crypto firm Binance Australia sued by ASIC, ASX slips — as it happened

Coverage Details

Give the gift of Perspective

Bias Distribution

Ownership

Similar News Topics

Similar News Topics