<ul><li>The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Binance Australia Derivatives over inadequate customer protection practices.</li><li>ASIC alleges that over 500 retail investors were misclassified as wholesale clients, denying them essential consumer safeguards.</li><li>Binance is accused of failing to provide disclosure statements, determine target markets, and offer adequate complaint resolution.</li><li>ASIC seeks penalties, declarations, and adverse publicity orders against Binance Australia.</li></ul>

ASIC sues Binance Australia over investor misclassification and protections

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