Kraken to Pay $5.1 Million Fine for Violating Australian Credit Laws
Key Points Kraken's Australian operator, Bit Trade, was fined $5.1 million for regulatory violations. The case involves the unlawful issuance of a margin trading product to over 1,100 customers. This marks the first penalty for failing to provide a target market determination. Kraken expressed disappointment but pledged to engage with regulators on future policies. Australia's corporate watchdog, the Australian Securities and Investments Commission (ASIC), announced on Thursday that the Federal Court had ordered Bit Trade, the local operator of the...