Bloomberg reports that Binance Australia’s offices were searched by a financial regulator.

Binance Australia’s office was searched by the country’s financial regulator, the Australian Securities & Investments Commission (ASIC), on Tuesday, according to a report in Bloomberg .

The report, citing anonymous sources, comes after the company’s derivatives license was canceled in April , following an investigation into how it classified clients as professional wholesale investors, as they can get fewer regulatory protections than regular retail customers.

“We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,” a Binance Australia spokesperson told blockchain in an e-mailed statement.

Binance was raided by the public prosecutor in Paris, France in June for “aggravated money laundering.” The company’s U.S. arm and its CEO Changpeng “CZ” Zhao are the subject of a lawsuit from U.S. regulators that alleges the exchange operated unlawfully and listed unregistered securities exchange.

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A spokesperson for ASIC told blockchain that its investigation is “ongoing,” but that it was “unable to confirm or deny any operational detail such as possible searches.”

UPDATE (July 5, 2023, 10:13 UTC): Adds ASIC statement.

Edited by Parikshit Mishra.

Translation:

Binance Australia’s office underwent a search by the Australian Securities & Investments Commission (ASIC), the country’s financial regulator, on Tuesday. This information was reported by Bloomberg. The report, which cites anonymous sources, follows the cancellation of the company’s derivatives license in April. The cancellation was a result of an investigation into how Binance classified clients as professional wholesale investors, who receive fewer regulatory protections compared to regular retail customers.

A spokesperson for Binance Australia stated in an email that they are cooperating with local authorities and are committed to meeting local regulatory standards to ensure full compliance in serving their users in Australia.

In June, Binance was raided by the public prosecutor in Paris, France on charges of aggravated money laundering. In addition, Binance’s U.S. arm and its CEO, Changpeng “CZ” Zhao, are facing a lawsuit from U.S. regulators alleging unlawful operation and listing of unregistered securities.

ASIC confirmed that their investigation is ongoing but declined to provide details regarding any potential searches or operational information.

UPDATE (July 5, 2023, 10:13 UTC): ASIC statement has been added.

Edited by Parikshit Mishra.