Kraken’s Bit Trade Fined $5.1M AUD for Regulatory Violations

Bit Trade, the Australian subsidiary of Kraken, has been fined $5.1 million AUD (approx. $3.2 million USD) by the Australian Federal Court for offering a margin lending product to customers without regulatory approval. According to a media release from the Australian Securities and Investments Commission (ASIC), Bit Trade Pty Ltd has been offering a “margin extension” product to its Australian... source: https://news.shib.io/2024/12/16/krakens-bit-trade-fined-5-1m-aud-for-regulatory-violations/?utm_source=rss&utm_medium=rss&utm_campaign=krakens-bit-trade-fined-5-1m-aud-for-regulatory-violations