Australia’s Federal Court ordered Oztures Trading Pty Ltd (Binance Australia Derivatives) to pay a A$10 million civil penalty after ASIC found 524 retail clients were wrongly classified as wholesale between July 2022 and April 2023. ASIC cited inadequate onboarding controls (unlimited quiz retries), deficient staff training and senior compliance oversight, and insufficient verification of professional investor claims. Affected clients recorded A$8.66 million in trading losses and paid A$3.89 million in fees; Binance had already paid ~A$13.1 million in compensation in 2023 and was ordered to contribute to ASIC’s legal costs. Binance says the issue was self‑identified and remediated. The ruling adds to regional scrutiny after reported restrictions and app removals in the Philippines.

Federal Court ordered a A$10M penalty after ASIC found 524 retail clients were misclassified; ASIC documented onboarding and compliance failures; affected clients recorded A$8.66M in trading losses and A$3.89M in fees; Binance had already paid ~A$13.1M in compensation and was ordered to pay legal costs — concrete regulatory action and documented client losses justify negative sentiment and moderate market impact.