JUST IN: #BINANCE AUSTRALIA FINED $6.9M OVER CLIENT FAILURES
Australia’s federal court imposes penalty on Binance’s derivatives arm in Australia, according to @Reuters
Regulator finds major lapses in client onboarding processes. Over 85% of users were misclassified, officials said.
The penalty totals A$10 million ($6.9 million).
Authorities stress the importance of proper investor categorization.
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