Why is Binance no longer available in Australia?

“AUD deposits by bank transfers are no longer available to Binance users in Australia due to a decision made by our third-party service provider. The suspension of this service is with immediate effect,” a spokesperson for the business said.

What is Binance's Australia's financial services licence?

Binance’s Australia’s financial services (AAFS) licence only allows it to provide derivatives products to sophisticated investors, rather than retail customers. “It is critically important that AFS licensees classify retail and wholesale clients in accordance with the law,” Longo said.

How secure is Binance?

Binance stores 10% of all trading fees in a secure asset fund to protect a share of user funds. Personalized access control allows you to restrict devices and addresses that can access your account, for greater ease of mind. Your transaction data is secured via end-to-end encryption, ensuring that only you have access to your personal information.

Is Binance blocking US customers?

The complaint alleges that Binance has grown its US business despite publicly stating its intent to block US customers from accessing the platform. Allegations in the complaint include a claim that even after announcing US restrictions Binance told its most valuable US customers how to avoid its compliance controls.