In 2022 Binance topped up the fund to a value of US$1 billion. The fund includes cryptocurrencies and so its value changes inline with the market. Binance has been operating an emergency insurance fund since 2018. Australians who want to trade with AUD on the spot market may need to consider another exchange.Ĭustomer service can be accessed through live chat and is quick to respond, although you will need to talk to a bot first. There's a number of innovative features like a launchpad for early-stage investing, a learn and earn hub, an NFT marketplace and even access to DeFi services.īinance currently only accepts AUD purchases using a credit or debit card. Investors can earn yield on their coins in a number of ways or take advantage of automated tools like recurring buys and a rebalancing bot. Traders have access to instant swaps, a fully featured spot market, P2P and margin trading. The platform offers over 350 cryptocurrencies and twice as many trading pairs.īinance pushes the limits of what a cryptocurrency exchange can offer. It has been operating a dedicated Australian service since 2020 and is registered with AUSTRAC. Our verdictīinance is the world's largest exchange by trade volume. You can still purchase cryptocurrency with AUD using a credit or debit card, Google or Apple Pay, or by transferring crypto from another exchange. May, 2023: Binance has halted AUD deposits using PayID and bank transfer. June, 2023: Binance and its founder Changpeng Zhao have been charged in the US by the SEC for breaching securities laws. Australians may still purchase crypto using credit/debit cards or through the P2P exchange. June, 2023: Binance no longer supports AUD trading pairs or AUD bank transfers.
Best travel insurance in Australia July 2023.All international money transfer services.High interest savings accounts Australia.It also alleges that Coinbase offered and sold unregistered securities via its staking service.Īnd though the complaint claims Coinbase is guilty of commingling, it doesn’t allege the commingling of funds-rather, functions. While against Coinbase, the SEC alleges that the San Francisco-based company for years operated as an unregistered national securities exchange, broker and clearing agency. has not yet leveled criminal charges against Binance or Zhao. Although it’s worth pointing out that unlike FTX founder Sam Bankman-Fried, who is facing 13 criminal charges, the U.S. The SEC claims digital asset behemoth Binance moved around customers’ fiat and crypto “as defendants pleased”-an allegation reminiscent of those against its disgraced former competitor, FTX. Though the allegations against Coinbase are serious, the complaint against Binance is more damning: It directly mentions the company’s CEO and is significantly longer, with heavier allegations.Īccording to Federica Pantana, an attorney in Davidoff Hutcher & Citron’s Corporate Law practice, who specializes in securities law compliance, Binance may be in bigger trouble, because “a company may never recover from fraud or similar claims. The regulator on Tuesday then claimed that America’s biggest crypto exchange Coinbase operated for years as an unlicensed securities exchange and “elevated its interest in increasing its profits over investors’ interests.”īut the lawsuits are different.
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