According to Bloomberg, Binance Australia's derivatives business was fined 10 million AUD (approximately 6.9 million USD) by the local court for violations of customer onboarding procedures. The court found that its operator, Oztures Trading, misclassified over 85% of Australian users as "wholesale clients" from July 2022 to April 2023, allowing hundreds of retail investors to participate in high-risk crypto derivatives trading without legal protections, resulting in millions of dollars in customer losses and fees.

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