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Binance Australia Derivatives Closes Down Australian Financial Services Licence (AFSL) Following ASIC Warning

Reading Time: 3 minBinance, one of the world’s largest cryptocurrency exchanges, has lost its Australian Financial Services Licence (AFSL) following a warning from the Australian Securities and Investments Commission (ASIC). The cancellation of Binance’s AFSL means that the exchange is no longer authorized to operate in Australia, and it must cease all its activities immediately. This article discusses the impact of this decision on Binance’s operations and the regulatory landscape for cryptocurrency exchanges in Australia.

Cryptocurrency Exchanges

Binance Responds to CFTC Lawsuit, Calling for More Regulation in the Cryptocurrency Industry

Reading Time: 2 minBinance, one of the world’s largest cryptocurrency exchanges, has responded to the lawsuit filed by the US Commodity Futures Trading Commission (CFTC), denying allegations that it violated derivatives trading rules. The lawsuit highlights the challenges faced by regulators in overseeing the rapidly evolving cryptocurrency industry, and the need for more robust regulation to protect consumers and the financial system. While Binance’s commitment to regulatory compliance is commendable, it is clear that more needs to be done to ensure consumer protection and the stability of the financial system in the cryptocurrency market.

Cryptocurrency Exchanges

Crypto Exchange Binance Sued by US CFTC for Alleged Derivatives Rule Lapses

Reading Time: 2 minThe US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Binance, a major cryptocurrency exchange, alleging that the exchange violated derivatives trading rules by allowing US-based customers to trade without being registered with the agency. The lawsuit highlights the challenges that regulators face in overseeing the cryptocurrency industry, and the need for stricter regulation to protect consumers and the financial system from potential risks associated with cryptocurrency exchanges.

Latest News

Crypto Fugitive Do Kwon Arrested in Montenegro Months After $40B TerraUSD Collapse

Reading Time: 2 minDo Kwon, co-founder of the Terra network and a prominent figure in the cryptocurrency industry, has been arrested in Montenegro months after the collapse of TerraUSD, a stablecoin project he was involved in. The collapse led to losses of around $40 billion for investors, and Kwon had been on the run since then. His arrest has sent shockwaves through the industry and raised questions about the regulation of stablecoins and the wider cryptocurrency industry.

Cryptocurrency Fundementals

Cryptocurrency Coin vs Cryptocurrency Token: What’s the Difference?

Reading Time: 2 minDiscover the key differences between cryptocurrency coins and cryptocurrency tokens, including their creation process, uses, and advantages and disadvantages. Whether you’re an investor or just interested in the crypto market, understanding the difference between coins and tokens is essential.

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