Binance Australia staff had been allegedly incompetent and misclassified lots of of retail mum-and-dad investors as “refined” entities, exposing them to extremely speculative and dangerous cryptocurrency merchandise, the company watchdog claims.
The Australian Securities and Investments Fee sued Binance, which is the world’s largest cryptocurrency alternate, on Tuesday. ASIC alleges the corporate breached its licence and native legal guidelines for greater than 12 months, main to those unsophisticated clients shedding $13.1 million.
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