Binance sued in Australia over alleged consumer protection breaches

The Australian Securities and Investments Commission (ASIC) has launched legal action against Binance Australia Derivatives, accusing the crypto trading platform of misclassifying over 500 retail clients as wholesale investors.  According to ASIC’s press release, Binance’s misclassification allegedly stripped clients of vital consumer protections under Australian financial laws, prompting a... source: https://www.cryptopolitan.com/binance-sued-in-australia-over-breaches/