Australian regulator cancels Binance’s license at exchange’s request

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Binance's Australian derivatives license was canceled at the crypto exchange's own request, the Australian Securities & Investments Commission said Thursday, after the regulator had begun a "targeted review of Binance" in February. Beginning April 14, Binance's derivative clients in Australia will not be able to open or increase their existing trading positions. By Apr. 21, Binance will be required to close out any remaining trading positions, the regulator said. "Our targeted review of these matters is ongoing, including focus on the extent of consumer harms," ASIC chair Joe Longo said. "Following recent engagement with ASIC, Binance has chosen to pursue...