TronWeekly
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance’s Australian arm for allegedly failing to protect consumers. The case centers on claims that Binance misclassified 505 retail investors as wholesale clients, which exposed them to high-risk and speculative crypto derivative products. ASIC argues that this misclassification led to significant consumer harm [……
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Binance Faces Legal Action for Failing to Protect Australian Consumers
Mutuma Maxwell
18:21
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance’s Australian arm for allegedly failing to protect consumers. The case centers on claims that Binance misclassified 505 retail investors as wholesale clients, which exposed them to high-risk and speculative crypto derivative products. ASIC argues that this misclassification led to significant consumer harm
