Binance cancels its Australian derivatives license
Binance abruptly closed the derivatives position for its Australian users in February, citing compliance with local laws.
Regulatory proposals, exchange oversight, mining, and institutional interest in Australia’s crypto sector.
Binance said it has informed the impacted users and they would be fully compensated for their losses, according to its statement.
The Australian regulators issued 3 notices to FTX and was surveilling the exchange in the 8 months before it collapsed.
The impact of the FTX meltdown has outstripped the crypto ecosystem and leeched into the mainstream tech industry and beyond.
Digital Surge are set to repay customers with a balance of up to $250 AUD in full and balances above that 55% of their balance.
Crypto lobby groups in the country have argued against the broad classification of all crypto assets as financial products.
The stablecoin, AUDN, will focus on reducing settlement time, bringing down cost of international transfers, and carbon credits.