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Unplugged Binance fined $10m for exposure

Editor
1 Apr, 2026
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Warwick Ponder
Editor
1 Apr, 2026
Add us as a preferred source on Google
Binance Australia is having a bad year. After being unplugged after a short stint riding the Australian financial system via Bolt Group and Banking Circle, the company has now been fined $10 million for exposing its customers to high risk crypto products without protection and is still under an AUSTRAC investigation.
Unplugged Binance fined $10m for exposure
ASIC Chair Joe Longo says Binance failed to set up basic compliance checks and incorrectly approved hundreds of applications for complex, wholesale investor products. “This is a clear warning to global financial services entities looking to set up shop in Australia.”

Binance Australia is having a bad year. After being unplugged after a short stint riding the Australian financial system via Bolt Group and Banking Circle, the company has now been fined $10 million for exposing its customers to high risk crypto products without protection and is still under an AUSTRAC investigation.

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