Australia’s market regulator, the
Australian Securities and Investments Commission (ASIC), has opened a review into Binance Australia’s derivatives business.
A day earlier, Binance incorrectly tagged 500 Australian users as "wholesale investors." As a result, their derivative positions were closed.
Binance claims to have already contacted all impacted users and would fully compensate them.
But according to the ASIC, Binance is yet to report the matter "in accordance with its obligations under its Australian Financial Services Licence."
