ASIC sues Binance Australia over investor misclassification and protections

The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Oztures Trading Ltd—the operator of Binance Australia Derivatives—over inadequate customer protection practices. According to a Dec. 18 statement, the regulator claims that over 500 retail investors were misclassified as wholesale clients, denying them crucial consumer safeguards. ASIC’s allegations ASIC... source: https://cryptoslate.com/asic-sues-binance-australia-over-investor-misclassification-and-inadequate-protections/