Australian financial regulator, the Australian Securities & Investments Commission (ASIC), searched Binance Australia’s office on Tuesday, according to a report in Bloomberg. The report, citing anonymous sources, follows the company’s derivatives license being canceled in April due to an investigation into how it classified clients as professional wholesale investors.
We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner, a Binance Australia spokesperson told journalists in an emailed statement.
In June, Binance was raided by the public prosecutor in Paris, France for aggravated money laundering. The company’s U.S. arm and its CEO Changpeng CZ Zhao are the subject of a lawsuit from U.S. regulators that alleges the exchange operated unlawfully and listed unregistered securities exchange.
The regulator’s review is ongoing but ASIC could not confirm or deny the searching of premises, according to Bloomberg. ASIC did not immediately respond to a CoinDesk request for further information.