According to an article in Bloomberg, the Australian Securities & Investments Commission (ASIC) searched Binance Australia’s office on Tuesday. This development follows the cancellation of Binance’s derivatives licence in April, which came after an investigation into the company’s classification of clients as professional wholesale investors, potentially affording them fewer regulatory protections than regular retail customers.
In response to the report, a spokesperson for Binance Australia stated that they are cooperating with local authorities and that Binance is committed to meeting local regulatory standards to ensure compliance in serving their users in Australia.
It’s worth noting that Binance has also faced legal scrutiny in other jurisdictions. In June, the company’s office in Paris, France, was raided by the public prosecutor concerning allegations of aggravated money laundering. In the United States, Binance’s CEO, Changpeng “CZ” Zhao, and its U.S. arm are the subjects of a lawsuit brought by regulators, alleging unlawful operations and listing unregistered securities.
ASIC confirmed its ongoing investigation into Binance but declined to provide further details regarding possible searches or operational specifics