The Federal Court of Australia fined Binance AUD 10 million. The exchange previously admitted to incorrectly classifying over 85% of its local derivative clients as wholesale investors, resulting in 524 retail clients facing the risk of trading high-risk products for which they were ineligible. This misclassification occurred between July 2022 and April 2023, leading to client trading losses of AUD 8.66 million and costs of AUD 3.89 million. The Australian Securities and Investments Commission emphasized that users can retake the "Mature Investor" test an unlimited number of times until they pass. The fine intensifies Binance's regulatory challenges worldwide; the company had previously settled with the United States in 2023, and the U.S. Senate and Department of Justice are still investigating it.