{"id":118054,"date":"2023-07-05T07:29:25","date_gmt":"2023-07-05T07:29:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/binance-australia-offices-reportedly-searched-by-local-regulator-crypto-news\/"},"modified":"2023-07-05T07:29:27","modified_gmt":"2023-07-05T07:29:27","slug":"binance-australia-offices-reportedly-searched-by-local-regulator-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-australia-offices-reportedly-searched-by-local-regulator-crypto-news\/","title":{"rendered":"Binance Australia offices reportedly searched by local regulator\n &#8211; Crypto News"},"content":{"rendered":"<div data-v-0c8d7d80=\"\">\n<p>Binance<strong> <\/strong>Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company&#8217;s offices were searched on July 4.<\/p>\n<p>&#8220;We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,&#8221; a spokesperson for Binance Australia told Cointelegraph.<\/p>\n<p>The Australian Securities and Investments Commission (ASIC) conducted searches at Binance Australia locations on Tuesday, Bloomberg reported.  The investigation was part of an ongoing probe into Binance&#8217;s now-defunct Australian derivatives business, the report notes, citing anonymous people familiar with the matter.<\/p>\n<p>Binance&#8217;s representative did not confirm or deny to Cointelegraph whether the company&#8217;s offices were searched, or even whether the company was aware of a local probe.<\/p>\n<p>The news came a few months after the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/binance-australia-derivatives-license-canceled-by-securities-regulator\">ASIC canceled the license of Binance Australia Derivatives<\/a> in April 2023. The move followed a targeted review of Binance&#8217;s operations in the country, particularly the platform&#8217;s classification of retail and wholesale clients.<\/p>\n<p><strong><em>Related: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/australian-banks-claim-40-percent-scams-touch-crypto\"><strong><em>Australian banks claim 40% of scams &#8216;touch&#8217; crypto as it defends restrictions<\/em><\/strong><\/a><\/p>\n<p>In response, Binance chose to pursue a &#8220;more focused approach&#8221; in Australia, opting to shut down derivatives trading in the country.  Binance still offers spot trading services in Australia.<\/p>\n<p>Previously, Australian regulators launched an investigation into Binance after the company abruptly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/aussie-regulators-review-binance-australia-derivatives-over-account-closures\">closed some derivatives positions<\/a> in February.  The company cited investor classification compliance, reportedly claiming that it was restricting users that didn&#8217;t meet the requirements to be wholesale investors.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/magazine\/hk-crypto-etfs-binance-maverick-poly-network-hacked-asia-express\/\"><strong><em>Asia Express: HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack<\/em><\/strong><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company&#8217;s offices were searched on July 4. &#8220;We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,&#8221; a spokesperson for Binance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":118055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-118054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=118054"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118054\/revisions"}],"predecessor-version":[{"id":118056,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118054\/revisions\/118056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/118055"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=118054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=118054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=118054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}