Australia Securities Regulator Sues Binance Over Alleged Consumer Safeguard Failures

Quick Summary:

"Crypto derivative products are inherently risky and complex, so it is critical that retail clients are classified correctly,” an ASIC official said.

In July 2023, the Australian regulator reportedly conducted searches at the exchange's local offices as part of its investigation into the now-defunct local derivatives business of the exchange.

Last April, the ASIC canceled the operating license for Binance Australia Derivatives, after a "targeted review" of Binance that began in February.

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Article Details

Author / Journalist: Vismaya V

Category: Crypto

Markets: EstoniaAustralia

Topics: ASIC Lawsuit Coins Binance Australia securities and investments commission

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 10:19:08 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 587 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 24547327

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About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 4 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 9 hours ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #63

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