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Australian authorities raid Binance offices

After regulatory blows in the US and Europe, Binance's Australian arm has now been hit.

By Finst News
• 2 min read
Australian authorities, raid Binance offices.

After regulatory blows in the US and Europe, Binance's Australian arm has now been hit.

The Australian Securities and Investments Commission (ASIC) has raided the offices of Binance Australia. This reported Bloomberg based on unnamed sources. The reason is an investigation into the company's derivatives division, which ceased operations back in April. The company is accused of not properly separating retail investors from institutional investors. Meanwhile, Binance Australia's Spot Exchange continues to operate smoothly.

Binance hit hard

The news joins a wave of investigations against the world's largest crypto exchange. In addition to the U.S. investigating the company, investigations are also taking place by european authorities. Binance pulled out of the Netherlands back in mid-June. In Paris, prosecutors are also investigating the French branch of the company.

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