Australia: Securities and Investments Commission lawsuit against Binance Australia Derivatives over alleged consumer protection failures
Progress
Current status
in force
27 Mar 2026 in force
18 Dec 2024 under deliberation
Scope
Implementers
Australia
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
judiciary
executive
Government Body
court
other regulatory body
Implementation Level
national
Timeline of events
Federal Court fined Binance Australia AUD 10 million over compliance failures in crypto derivatives offering
On 27 March 2026, the Federal Court of Australia fined Binance Australia AUD 10 million for breaching the Corporations Act over compliance failures in crypto derivatives offering. It was found that Binance misclassified over 85% of its Australian cl…
SourceEvent type
public lawsuit
Action type
ruling
Government branch
judiciary
Government body
court
Securities and Investments Commission announced lawsuit against Binance Australia Derivatives over alleged consumer protection failures
On 18 December 2024, the Australian Securities and Investments Commission (ASIC) announced a public lawsuit against Oztures Trading Pty Ltd, trading as Binance Australia Derivatives. The lawsuit alleges that from 7 July 2022 to 21 April 2023, Binanc…
SourceEvent type
public lawsuit
Action type
announcement
Government branch
executive
Government body
other regulatory body