The Australian Securities and Investments Commission (ASIC) has filed charges in the Federal Court alleging that more than 500 retail clients of Oztures Trading Pty Ltd, operating as Binance Australia Derivatives (Binance), were wrongly classified as consignors -wholesale clients, depriving them of essential consumer protections. .
Between July 7, 2022 and April 21, 2023, Binance reportedly provided crypto derivative products to 505 Australian retail investors, which accounted for 83% of its local customer base.
More here (link to ASIC)
