Australia: Australian Communications and Media Authority (ACMA) Spam Investigation into Binance Australia

Progress

Current status

in force

10 Nov 2022 in force

03 May 2022 under deliberation

Scope

Implementers

Australia

Policy Area

Other operating condition

Policy Instrument

Consumer protection regulation

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

Government Branch

executive

Government Body

other regulatory body

Implementation Level

national

Timeline of events

10 Nov 2022

in force

Issued Ruling in ACMA Spam Investigation into Binance Australia

On 10 November 2022, the Australian Communications and Media Authority (ACMA) ruled that Binance Australia, a crypto exchange platform operated by InvestbyBit Pty Ltd, was liable to pay a penalty of over AUD 2 million after an investigation found th…

Source

Event type investigation

Action type ruling

Government branch executive

Government body other regulatory body

03 May 2022

under deliberation

Announced ACMA Spam Investigation into Binance Australia

On 3 May 2022, the Australian Communications and Media Authority (ACMA) initiated an investigation into Binance Australia, a crypto exchange platform operated by InvestbyBit Pty Ltd, for allegedly sending commercial emails that made consumer opt-out…