Share this article
Binance Australia Directed to Appoint External Auditor Over 'Serious Concerns'
Binance Australia has 28 days to nominate external auditors for AUSTRAC's consideration.
Aug 22, 2025, 9:28 a.m.
Make us preferred on Google
What to know:
- Binance Australia has been directed to appoint an external auditor by the country's anti-money laundering regulator.
- AUSTRAC said it has flagged concerns about Binance's AML/CTF governance based on its high staff turnover and a lack of local resourcing and senior manager oversight.
- Binance Australia has 28 days to nominate external auditors for AUSTRAC's consideration.
Binance Australia has been directed to appoint an external auditor by the country's anti-money laundering (AML) regulator.
Australian Transaction Reports and Analysis Centre (AUSTRAC) said it has identified "serious concerns" with the crypto exchange's AML and counter-terrorism financing (CTF) controls.
STORY CONTINUES BELOW
Binance Australia has 28 days to nominate external auditors for AUSTRAC's consideration.
AUSTRAC said it has flagged concerns about Binance's AML/CTF governance based on its high staff turnover and a lack of local resourcing and senior manager oversight.
“We have engaged openly and transparently with Austrac over the past several months and continue to value their guidance, expertise, and oversight,” Matt Poblocki, general manager of Binance Australia and New Zealand, said, according to a Bloomberg report. “We remain committed to maintaining best-in-class compliance standards and will continuously enhance our capabilities.”
Binance did not immediately respond to CoinDesk's request for further comment.
The Binance empire has had a difficult relationship with regulators over the years. A string of regulatory bodies issued warnings about the exchange's authorization (or lack thereof) to operate in 2021. This came to a head in 2024 when founder Changpeng "CZ" Zhao was sentenced to four months in U.S. federal prison after pleading guilty for violation of money laundering laws.
AUSTRAC has been trying to take a proactive approach to its oversight of the digital asset industry in recent months, recently enacting a series of measures on crypto ATM providers over concerns about their alleged use for scams.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
SEC clarifies rules for tokenized stocks, tightening scrutiny on synthetic equity
The agency says issuer approval is required for true tokenized ownership, warning that many stock tokens sold to retail investors provide only indirect or synthetic exposure.
What to know:
- The Securities and Exchange Commission issued new guidance clarifying that tokenized stocks are subject to existing securities and derivatives rules, regardless of whether they are recorded on a blockchain.
- The agency drew a sharp line between issuer-sponsored tokenized securities, which can represent true equity ownership, and third-party products that typically provide only synthetic exposure or custodial entitlements.
- Regulators signaled they aim to curb the spread of synthetic equity products to retail investors while encouraging issuer-approved, fully regulated tokenization structures.
Top Stories
