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YOU WON’T BELIEVE the Crypto Exchange That Just Got Sued by a Bunch of Outraged Australians… Guess Who It Is!

An illustration of the Australian flag with a red 'X' marked through it, surrounded by broken chains and shattered glass, while in the background Kraken's logo is seen being dragged away by two figures representing ASIC and Justice.

Not another one bites the dust! It seems like every other week we’re reading about some cryptocurrency exchange getting fined by a regulatory body for its blatant disregard of laws and regulations. And who’s surprised? Not me, that’s for sure. I mean, what did they expect when you let just anyone create their own ‘financial product’ with no oversight or accountability?.

Source: bitcoin.com

The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer protection. The Australian Securities and Investments Commission (ASIC) announced on Friday that the Federal Court […]

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