Claiming that it was only the derivatives license of Binance Australia that was canceled, the exchange’s CEO on Thursday offered an explanation to clear any confusion. Earlier, CoinGape reported that the Australia Securities & Investment Commission (ASIC) said it was canceling the Australian financial services (AFS) license held by Binance. However, CZ clarified that the Binance Australia Derivatives business is being closed but the spot exchange will continue to operate in the country.

Binance CEO Changpeng ‘CZ’ Zhao said artificial intelligence (AI) is a technology that may take over our world and make us irrelevant, but no one is worried about it.

ASIC has cancelled the Australian financial services licence of Binance Australia Derivatives, held by Oztures Trading Pty Ltd, effective immediately. Clients will not be able to increase derivatives positions or open new positions from 14 April 2023, and will need to close any existing derivative positions before 21 April 2023.

Jane Street Group, Tower Research Capital, and Radix Trading have been identified as Binance's three "VIP" clients in the recent lawsuit filed against Binance by the US commodities regulator. Radix Trading is "Trading Firm A" in the Commodities Futures Trading Commission's (CFTC) suit, while Jane Street was "Trading Firm B" and Tower Research was "Trading Firm C." The firms were examples of US clients allegedly able to access Binance. The CFTC claimed that the "VIP" treatment from Binance actively facilitated violations of US law by helping US trading firms evade Know Your Customer (KYC) compliance standards. Binance has denied the claims of compliance and market manipulation violations.

Binance has opened up fiat ramps in Argentina, where the inflation rate has surged above 100% for the first time in three decades.

Sun stated that the crypto exchange has “no intention of changing ownership”.

Dubai Regulator Demands Binance Provide Info on Ownership; Binance Rejected Justin Sun’s Offer to Buy His Huobi Stake; OKX and Google Cloud Host Successful Hackathon for Decentralized Applications on OKT Chain

Binance, the world’s largest cryptocurrency exchange by volume, recently turned down an offer to acquire Tron blockchain founder Justin Sun’s ownership stake in rival exchange Huobi, according to a person familiar with the matter.

Binance Pay is introducing Radisson Hotel, a leading global hotel group, to the crypto world. The hotel now accepts SHIB and crypto payments for reservations in Georgia through Binance Pay.

The Virtual Assets Regulatory Authority (VARA), the entity that oversees crypto activities in Dubai, has asked Binance to provide more information about its business requirements in its efforts to tighten regulatory guardrails in the emirate, Bloomberg reported.