Binance's Australian License Revoked at Own Request by Regulator

Binance's Australian derivatives license has been canceled at the exchange's own request, according to the Australian Securities & Investments Commission. The regulator had begun a "targeted review of Binance" in February. Binance's derivatives clients in Australia will not be able to open or increase their existing trading positions from April 14, and by April 21, Binance will be required to close out any remaining trading positions. Regulatory scrutiny of Binance has been mounting in recent weeks and months, with anti-money laundering and know-your-customer compliance issues at the heart of the U.S. Commodity Futures Trading Commission's extensive complaint against the crypto exchange and its founder, Changpeng Zhao.