🚨 Crypto Alert! 🚨

Binance's Australian branch is in hot water! 🇦🇺 ASIC accuses Binance Australia Derivatives of misclassifying over 500 retail clients as "wholesale clients," leaving them vulnerable to risky crypto assets without proper protection. From July 2022 to April 2023, 83% of clients were affected, leading to $13 million in compensation. ASIC is pursuing legal action, aiming for penalties and more. What are your thoughts on regulatory oversight in crypto? Share in the comments! 💬

#CryptoNews #Binance #Australia