When will ASIC cancel FTX Australia's Australian Financial Services Licence?

ASIC has cancelled the Australian financial services (AFS) licence held by FTX Australia Pty Ltd (FTX Australia), effective from 14 July 2023. The terms of the cancellation include provisions that, until the end of 12 July 2024:

Why did ASIC cancel the Australian Financial Services Licence?

ASIC has today cancelled the Australian financial services licence held by Oztures Trading Pty Ltd trading as Binance Australia Derivatives (Binance). The licence cancellation was effected today in response to a request to cancel received from Binance yesterday. Following the cancellation:

What happens if FTX Australia cancels derivatives?

FTX Australia may provide limited financial services that relate to the termination of existing derivatives with clients; and the cancellation has no effect on requirements for FTX Australia to continue as a member of Australian Financial Complaints Authority, and to have arrangements for compensating retail clients.