According to Bloomberg, citing sources familiar with the situation, the searches took place this Tuesday. An ASIC spokesman told the publication that the regulator “cannot confirm or deny any details, including the searches.”. He added that the regulator’s review of the company continues.<br
Binance, for its part, said it is “cooperating with local authorities” and is “focused on complying with local regulatory standards in order to serve users in Australia in full compliance.”
As required by the Australian regulator, as of April 14, 2023, Binance Australia customers can no longer invest in derivatives and create new trading positions on Binance. The exchange required customers to close existing derivatives positions.
Binance Australia later announced it was closing derivatives trading accounts that did not meet Australian legal requirements for wholesale investors.
Binance has also faced a backlash from financial regulators in Europe since the SEC lawsuits. Recently, the company Paysafe Payment Solutions, which is a banking partner of the exchange in Europe, said it will stop supporting the site from September 25. The company left Austria, the Netherlands, the UK and Belgium.
The German Financial Service (BaFin) decided not to grant a license to the exchange. EU countries also suspect that Binance subsidiaries in Ireland and Malta may be operating illegally.<br