Binance’s Australian offices raided : Bloomberg

As part of a investigation on derivative products, the australian authority from financial markets proceeded to the search of the Binance at Australia. L’exchange states collaborate with the controllers premises.

Will Binance have a run-in with yet another regulator, when its track record in this sector is already pretty heavy? This week, its Australian teams were visited by investigators from the Australian Securities and Investments CommissionASIC.

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This is what Bloomberg. The offices of Binance in the country were searched as part of a major investigation on operations concerning derivatives. ASIC is particularly interested in customer classification Binance Australia retail and wholesale.

Binance lost its derivatives license in April.

In April, the exchange announced that it was discontinuing its derivatives business, while keeping its cash platform operational.

“The company has previously stated that it has closed positions in derivatives of certain Australian users because they had been wrongly classified as wholesale investors “details Bloomberg.

This closure and product redesign was the result of an intervention by the Australian regulator. The Commission cancelled Binance’s license in April. on derivatives trading.

When questioned, ASIC said it was “not in a position to confirm or deny” information about searches. It does, however, acknowledge that an investigation concerning the crypto giant is “ongoing”.

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Binance says it will do its utmost to comply with local regulations

For its part, Binance responds by saying it is cooperating with local authorities and is striving to “comply with local regulatory standards in order to serve its users in Australia in full compliance “.

The exchange situation seems to be getting more complicated in Australia. “The Australian platform has been cut off from a vital local currency withdrawal route after the cancellation of its contract with Cuscal,” recalls Bloombergwhich details the various regulatory fronts that have been opened against the company.

This is notably the case in France where Binance is registered as a PSAN with the AMF. According to the public prosecutor’s office, the crypto exchange is suspected of “aggravated money laundering” and “illegal exercise of the PSAN function”.

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