Binance Australia Loses Derivatives License After ‘Targeted Review’ By DailyCoin

• The Australian Financial Complaints Authority (ASIC) canceled Binance’s derivatives license.
• The agency said that it’s been running a “targeted review” of Binance’s financial services business in Australia.
• Users have two weeks to close their positions.

The crypto industry has been experiencing one of the worst bear markets in its history. Not only have prices plummeted significantly, but regulators worldwide are also actively targetting crypto companies.

One crypto company that has faced regulatory pressures is Binance, which has just lost its derivatives license in Australia.

Binance Australia Loses Derivatives License

Australian Financial Complaints Authority (ASIC) announced on Thursday that Binance, the largest centralized cryptocurrency exchange in the world, can no longer run its derivatives business in the country.

That’s because the ASIC, after running a “targeted review” of Binance’s financial services…

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