Matteo
Sun Jun 09 2024
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7 answers
1425
Why is Australian Binance closing?｜The Australian Securities and Commission (ASIC) has been conducting a "targeted review" of Binance, first confirmed in February, when Binance said. Retail investors are entitled to a higher level of regulatory protection.it had misclassified some retail investors as wholesale
Why is Binance closing its operations in Australia? Could you elaborate on the reasons behind this decision? It seems that the Australian Securities and Investments Commission (ASIC) has been conducting a thorough investigation into Binance's operations. Initially, this review was announced in February. Could you explain what the ASIC's concerns are with regards to Binance? Also, what does Binance mean by "misclassifying some retail investors as wholesale"? And how does this misclassification relate to the closure of its Australian operations?
