- The Australian Monetary Complaints Authority (ASIC) has revoked Binance’s derivatives license.
- The company mentioned it was conducting a “focused assessment” of Binance’s monetary providers enterprise in Australia.
- Customers have two weeks to shut their positions.
The crypto business has skilled one of many worst bear markets in its historical past. Not solely have costs dropped considerably, however regulators around the globe are additionally actively focusing on crypto corporations.
One crypto firm that has confronted regulatory stress is Binance, which simply misplaced its derivatives license in Australia.
Binance Australia loses derivatives license
The Australian Monetary Complaints Authority (ASIC) introduced on Thursday that Binance, the world’s largest centralized cryptocurrency change, can not handle its derivatives enterprise within the nation.
That is as a result of ASIC, after conducting a “focused assessment” of Binance’s monetary providers…
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