<ul><li>ASIC sues Binance Australia for misclassifying over 500 retail clients, denying them proper consumer protections for derivatives.</li><li>Binance compensates affected clients with $8.29 million, while ASIC seeks further penalties to enforce compliance and investor safeguards.</li><li>ASIC files legal action against Binance Australia Derivatives for misclassifying retail investors as wholesale clients, depriving them of essential consumer protections.</li><li>ASIC focuses on compliance and consumer protection in the crypto market, investigating penalties and orders against Binance.</li></ul>

Binance Faces ASIC Lawsuit Over Misclassified Retail Clients

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