The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance Australia for the incorrect classification of more than 500 retail clients as wholesale. As a result, clients were deprived of the right to access informational documents and the dispute resolution system. ASIC accuses Binance of violating the financial license, ineffective client protection, and insufficient employee training. Binance has already paid 13 million Australian dollars in compensation, but ASIC demands fines and stricter regulation of the crypto market.
12/18/2024 2:34:13 PM (GMT+1)
ASIC filed a lawsuit against Binance Australia: 83 percent of clients were mistakenly classified as wholesale, more than 500 investors were deprived of key rights and financial protection ⚖️
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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