The Australian Securities and Investments Commission (ASIC) recently conducted a search of the offices of Binance Australia, one of the world’s leading cryptocurrency exchanges. The search was part of an investigation into whether Binance Australia had been operating without the proper licensing.

The ASIC investigation was prompted by reports that Binance Australia had been offering services to customers without the necessary licensing from the regulator. This is a violation of the Corporations Act 2001, which requires companies to obtain a license from ASIC before they can provide financial services.

Binance Australia has since issued a statement in response to the ASIC investigation, saying that it is “fully cooperating with the regulator” and that it is “committed to ensuring that it operates in accordance with all applicable laws and regulations.” The company also said that it is “confident that it is compliant with all applicable laws and regulations.”

The ASIC investigation is ongoing and it is unclear what the outcome will be. However, it is clear that the regulator is taking a hard stance against companies that are not compliant with its regulations. This is a positive step for the cryptocurrency industry, as it shows that the regulator is willing to take action against companies that are not following the law.

It is also important to note that ASIC’s investigation into Binance Australia does not mean that the company is guilty of any wrongdoing. The investigation is simply an effort by the regulator to ensure that companies are operating in compliance with the law.

Overall, the ASIC investigation into Binance Australia is a positive step for the cryptocurrency industry. It shows that regulators are willing to take action against companies that are not compliant with their regulations. It also serves as a reminder to other companies in the industry to ensure that they are operating in compliance with all applicable laws and regulations.