The Australian Securities and Investments Commission, the corporate and securities watchdog, searched Binance Australia’s office on Tuesday, Bloomberg reported, citing unnamed sources.

A spokesperson for Binance told Reuters the company is “cooperating with local authorities” and focused on “meeting local regulatory standards”, but did not confirm the search.

The world’s largest cryptocurrency exchange closed its Australian derivatives business and relinquished a financial services license in April amid an ASIC probe into the business.

ASIC’s investigation, first confirmed in February, concerns the misclassification of retail investors as wholesale. The former are entitled to a higher level of regulatory protection.

ASIC did not immediately respond to a Reuters request for comment.

The world’s largest cryptocurrency exchange is battling regulatory suits and probes around the world. The US Commodities Futures Trading Commission (CFTC) sued Binance and its founder Changpeng Zhao in March for operating what the regulator alleged was an “illegal” exchange.