30-5-2023 (SINGAPORE) On Tuesday, Bitcoin prices on Binance Australia, the Australian arm of the world’s largest cryptocurrency exchange, were observed to be nearly A$9,000 lower than prices on competing exchanges. This discrepancy indicates that customers are eager to swiftly exit their positions.
While the price of Bitcoin stood at approximately A$34,000 ($23,062.20) on Binance Australia, it was recorded at A$43,000 on BTC Markets, an Australian-based cryptocurrency exchange. Outside of Australia, Bitcoin was quoted at $27,790.
Reuters reached out to Binance for comment, but the company has yet to respond.
Earlier this month, Binance’s Australian division announced that some customers would face restrictions on depositing or withdrawing funds as a result of a third-party service provider terminating its services.
Binance has been contending with regulatory lawsuits and investigations worldwide. In April, the company disclosed its decision to shut down its Australian derivatives business and surrender its financial services license due to an ongoing regulatory probe into its operations.
