Watchdog Slaps Binance Australia With A$10 Million Fine Over Onboarding Failures
Australia’s financial regulator has hit Binance’s Australian derivatives arm with a A$10 million ($6.8 million) penalty after finding onboarding failures that exposed retail customers to risky products and resulted in millions in losses. Binance Admits Missteps In Australia In a Friday release, the Australian Securities and Investments Commission (ASIC) said the Federal Court ordered Oztures […]
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Amid regulatory scrutiny worldwide, global cryptocurrency exchange Binance has announced that it will cease offering futures, options, and leveraged tokens to Australian users in 90 days.
Changes Coming to Binance Australia
Cryptocurrency exchange Binance announced some changes to its offerings in Australia Tuesday. The exchange will cease offering futures, options, and leveraged tokens to existing Australian users. Binance explained:
Effective from 2021-09-24 09:00 AM (UTC), existing Australian users will have 90 days to reduce and close their positions for these products.....