Kraken Fined $8 Million by ASIC for Australian Rule Violations

The Australian Securities and Investments Commission (ASIC) has successfully prosecuted Bit Trade Pty Ltd, the operator of the Kraken cryptocurrency exchange in Australia, resulting in an $8 million fine. The penalty stems from Bit Trade’s unlawful issuance of a margin extension product to over 1,100 Australian customers without meeting the required regulatory obligations. Kraken Fined for... source: https://beincrypto.com/kraken-fined-by-asic/