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Regulatory

Binance Australia to pay $10m over deliberate customer misclassifications

The Federal Court has ordered Oztures Trading, known as Binance Australia Derivatives, to pay $10 million after it was found to have misclassified more than 85%, or 524, of its retail clients between July 2022 and April 2023.

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Read more: ASICBinance Australia DerivativesOztures TradingAustralian Transaction Reports and Analysis CentreBinance GroupFinancial StandardJoe Longo