
ASIC Cracks Down: Binance Australia Faces Lawsuit Over Investor Misclassification
Analysis of ASIC’s Lawsuit Against Binance Australia Derivatives The Australian Securities and Investments Commission (ASIC) has taken significant action against Binance Australia Derivatives, suing the platform for misclassifying over 500 retail clients as wholesale investors. This misclassification, which occurred between July 2022 and April 2023, exposed these investors to high-risk financial products without the necessary…