According to Bloomberg, citing sources familiar with the situation, the searches took place this Tuesday. An ASIC spokesman told the publication that the regulator “cannot confirm or deny any details, including searches.” He added that the regulatory review of the company continues.
Binance, in turn, said that it is “cooperating with local authorities” and “focused on compliance with local regulatory standards in order to serve users in Australia in full compliance with them.”
As required by the Australian regulator, starting April 14, 2023, Binance Australia customers can no longer invest in derivatives and create new trading positions on Binance. The exchange required clients to close existing derivatives positions.
Later, Binance Australia announced the closure of derivatives trading accounts that do not meet Australian law requirements for wholesale investors.
Following the SEC lawsuits, Binance also faced backlash from financial regulators in Europe. Recently, Paysafe Payment Solutions, which is the exchange’s banking partner in Europe, announced that it will stop supporting the site from September 25th. The company left Austria, the Netherlands, Great Britain and Belgium.
The German Financial Authority (BaFin) has decided not to license the exchange. Also, EU countries suspect that Binance’s subsidiaries in Ireland and Malta may conduct illegal activities.
Source: Bits

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