👉 Background: Binance has been in the spotlight a LOT lately. Yesterday we mentioned that it was whacked with major customer fund outflows over the last couple of days.

👉 What happened: But now, the Australian Communications and Media Authority, or ACMA, has issued a fine against Binance Australia. ACMA found that Binance Australia sent more than 5.7 million commercial emails over a six-month period up to March 2022.

👉 What else: The worse part? These emails required people to either opt-out by logging into an account, or there was no way to unsubscribe. And this $2m fine is all part of ACMA’s crackdown on Australia's Spam Act.

What's the key learning?

💡 Spam is any unwanted email or message that advertises goods or services. And the only thing worse than a spam email... is a spam email that doesn't include an unsubscribe button.

💡 In Australia, strict anti-spam laws have been in place since 2003. But this year, ACMA introduced a chunky crackdown against companies that rely on blasting emails and texts to attract new customers.

💡 And ACMA is clearly on a role because it’s the third major fine this year from ACMA.

• In September, Latitude Financial was fined $1.5 million for sending more than 3 million unsolicited messages to its customers
• Sportsbet was fined $3.7 million for similar reasons

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