- Binance’s derivatives trading license was previously suspended by the regulator
- Binance closed all derivatives positions from April 21
- The ASIC said it had no comment on the raids
The Australian Securities and Investments Commission (ASIC) raided the offices of local Binance unit. A source familiar with the situation says it is part of an investigation into the exchange’s derivatives business.
This was reported by Bloomberg. According to his information, the searches took place on Tuesday, July 4.
ASIC has the following to say about the situation:
“We cannot confirm or deny any possible details about the operations, such as searches.. The counterparty review continues.”
With regard to Binance, the organization stressed that it continues to cooperate with local authorities. However, the searches did not give any comment.</nbsp;
We would remind you that at the end of February, Binance Australia closed derivatives positions due to the misclassification of some wholesale users.</nbsp;
Later, in April, the regulator revoked the license. As of the 21st, the exchange has closed absolutely all derivatives positions. The platform was operated through Oztures Trading Pty Ltd.
At the same time, ASIC said it was conducting a review of the counterparty. A possible reason for this was the tightening of industry legislation.
Maintain an update on this topic on our website.. The situation is likely to develop.