Binance Australia’s Derivatives License Cancelled After April 21
The Australian regulator has ordered Binance Australia, an arm of the world’s biggest crypto exchange by transaction volume, to cancel all customer holdings by April 21. According to a news statement issued on Thursday, the Australian Securities and Investments Commission (ASIC) has revoked the Australian financial services license held by Oztures Trading Pty Ltd, business as Binance Australia Derivatives.
ASIC has been conducting a focused investigation of Binance Australia’s activities, and customers will be unable to raise derivatives holdings or create new positions with Binance beginning 14 April 2023. The termination provisions include a stipulation that the cancellation has no impact on Binance’s need to remain a member of the Australian Financial Complaints Authority until the end of April 8, 2024. Binance ceased its derivatives trading business in Australia ten months ago due to rising regulatory pressure. The world’s largest crypto exchange by volume has also ceased issuing crypto derivatives products.
Source
https://t.me/Crypto_Futures_Trading
