Australian Regulator Searches Binance’s Premises in Australia

The Australian Securities and Investments Commission (ASIC) searched the Binance office in Australia on Wednesday as part of an ongoing investigation into the cryptocurrency exchange.

The regulatory probe is focused on Binance’s derivatives operations and client classification.

Responding to the news, a Binance Australia spokesperson said:

“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.”

This comes after Binance announced in April that its derivatives license was canceled in Australia, and that it would be winding down related operations.

This heightened scrutiny follows the US Securities and Exchange Commission’s allegations last month that Binance and its founder Changpeng Zhao broke securities regulations.