Binance native token BNB fell to $241. Binance\u2019s now-defunct local derivatives business is undergoing a probe led by Australia\u2019s financial markets regulator. In April, Binance applied for cancellation of its derivatives business license and continued operations of the spot exchange.
The Australian financial regulator has searched Binance\u2019s offices in the country, Bloomberg reported Wednesday citing anonymous sources, as the largest exchange in the crypto ecosystem faces increasing regulatory scrutiny in many of its markets.
Binance\u2019s native token BNB traded at $241 at the time of writing, posting a 1.5% decline over the last 24 hours. Binance\u2019s derivatives arm faces probe from Australian authorities.
The Australian Securities and Investments Commission (ASIC), the country\u2019s financial regulator, searched Binance\u2019s offices in relation to the ongoing probe of the exchange\u2019s local derivatives business. The search was carried out on Tuesday, the report said.
An ASIC spokesperson said that the regulator\u2019s review of Binance is ongoing and the exchange platform is cooperating with local authorities. Binance told Bloomberg that its platform meets regulatory standards and serves users in a fully compliant manner. The exchange\u2019s woes do not end at the probe as there is currently no local currency withdrawal route for Binance\u2019s Australian users.<\/p>\n","protected":false},"excerpt":{"rendered":"
Binance native token BNB fell to $241. Binance\u2019s now-defunct local derivatives business is undergoing a probe led by Australia\u2019s financial markets regulator. In April, Binance applied for cancellation of its derivatives business license and continued operations of the spot exchange. The Australian financial regulator has searched Binance\u2019s offices in the country, Bloomberg reported Wednesday citing …<\/p>\n","protected":false},"author":13,"featured_media":81464,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[7626,10390,7499],"class_list":["post-86182","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-binance","tag-bnb","tag-regulation-crypto"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=86182"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86182\/revisions"}],"predecessor-version":[{"id":86192,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/86182\/revisions\/86192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/81464"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=86182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=86182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=86182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}