{"id":81248,"date":"2023-07-05T11:47:48","date_gmt":"2023-07-05T08:47:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81248"},"modified":"2025-09-11T21:43:07","modified_gmt":"2025-09-11T18:43:07","slug":"australian-regulator-conducts-searches-at-binance-australia-office","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/australian-regulator-conducts-searches-at-binance-australia-office\/","title":{"rendered":"Australian regulator conducts searches at Binance Australia office"},"content":{"rendered":"

Australian Securities and Investments Commission (ASIC) staff conducted searches at Binance Australia as part of a derivatives probe, Bloomberg<\/a> reports, citing people familiar with the matter.<\/p>\n

In April 2023, the regulator revoked<\/a> the local exchange’s license. By 21 April, Binance Australia Derivatives customers were required to close all derivative positions.<\/p>\n

The regulator is examining how the platform’s clients are classified as retail or institutional. Earlier the firm acknowledged that it had mistakenly classified retail clients as institutional.<\/p>\n

\n

We cannot confirm or deny any details. The regulator’s review of the company is ongoing,<\/em> said an ASIC spokesperson.<\/p>\n<\/blockquote>\n

Binance Australia staff said they are cooperating with local authorities and focused on complying with regulatory standards.<\/p>\n

In May, the local unit notified<\/a> customers of a suspension of deposits in local dollars due to the actions of the payment service provider.<\/p>\n

Later Binance announced the termination of its cooperation with Paysafe<\/a>, which, in the absence of alternatives, would make euro deposits and withdrawals impossible from September.<\/p>\n

In June, the U.S. Securities and Exchange Commission filed a lawsuit<\/a> against Binance and its CEO Changpeng Zhao. In this context, regulatory pressure on the company in Europe intensified.<\/p>\n

Binance withdrew applications for licenses in the United Kingdom<\/a>, Austria<\/a>, Cyprus<\/a>, and announced its exit from the Netherlands<\/a>. The Belgian Financial Services and Markets Authority ordered the exchange to immediately cease providing services<\/a>.<\/p>\n

Also, there was an investigation by French authorities<\/a> into the local subsidiary of the platform. Officials are examining alleged illegal provision of crypto services and non-compliance with anti-money-laundering obligations.<\/p>\n

Later, Brazil’s parliament decided to vote to summon the head of Binance’s regional office to testify<\/a> on similar grounds.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg: Australian Securities and Investments Commission staff conducted searches at Binance Australia as part of a derivatives investigation.<\/p>\n","protected":false},"author":1,"featured_media":81249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,744,36],"class_list":["post-81248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-binance","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81248"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81248\/revisions"}],"predecessor-version":[{"id":81250,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81248\/revisions\/81250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81249"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}