Binance Australia's derivatives license has been revoked by the Australian Securities and Investments Commission as part of an ongoing "targeted review" of Binance's businesses in the country, according to a press release issued on Thursday.

The command was given in response to Binance's own request to cancel the license, following a formal hearing conducted by ASIC to consider whether to revoke it.

Listen to the article to learn how Binance tried to put a positive spin on the news.

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