ASIC, as of today, Oztures Trading Pty Ltd’s Binance Australia Derivatives ( Binance) revoked its Australian financial services license, under which it traded.
Binance’s AustraliaWith this blow to his side, Barriers in derivatives exchanges were addressed . In response to the cancellation request from Binance, by sharing information about the license revocation. The answer was sent today.Financial Services License ( AFS) after cancellation It seems that there will be many changes in Binance’s Australian branch . After the obstacle put in front of AFS, Statements about what changes will be made were shared.
Consequences of AFS License Barrier Stated
After this blow to Binance Australia, an article was published about what differences will be in derivative exchanges. After AFS cancellation, effective from 14 April 2023, customers Binancederivative positions with will not be able to change or open new positions . Binance offers clients all available derivative positions. Before 21 April 2023will require shutdown. On April 21, 2023, Binance will close all remaining open positions.
The terms of the cancellation are valid until the end of Binance 8 April 2024. Australia Financial Complaint institutionIt contains a provision that it will have no effect on the requirement to continue as a member.
