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Description

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 that the company had sent unsolicited commercial emails that made consumer opt-outs difficult, and had sent commercial messages without consent, in breach of the Spam Act of 2003. In particular, ACMA found in its investigation that between October 2021 and May 2022 Binance Australia had sent over 5.7 million commercial emails that made it difficult for consumers to opt out or to unsubscribe.

Original source

Scope

Policy Area
Other operating condition
Policy Instrument
Consumer protection regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2022-05-03
under deliberation

On 3 May 2022, the Australian Communications and Media Authority (ACMA) initiated an investigation …

2022-11-10
in force

On 10 November 2022, the Australian Communications and Media Authority (ACMA) ruled that Binance Au…