News with the tag "Bit Trade"

Australia Federal Court has ordered Bit Trade, the local operator of the U.S.-based cryptocurrency exchange Kraken, to pay an AU$8 million ($5.1 million) fine for breaching market rules. The decision , delivered on Dec. 12 by Justice John Nicholas, sided with the Australian Securities and Investment...

Kraken Australia operator Bit Trade must pay $5 million plus the cost of court proceedings after the Federal Court sided with the country’s corporate watchdog.

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 ...

Following the ruling by Justice John Nicholas, ASIC and Bit Trade have been given a week to finalize declarations and injunctions. The post Australian Court Rules Against Kraken’s Bit Trade in ASIC Compliance Case appeared first on TheCoinrise.com .

An Australian Federal Court ruled in favor of the ASIC, against Bit Trade as it didn’t have a clear design while offering margin trading. The post Australian Regulator Gets legal Victory Against Kraken Operator Bit Trade appeared first on Cryptonews .

A court has found Bit Trade offered a product without following design and distribution obligations and acted as a credit facility, in violation of Australian laws.

The Australian Securities and Investments Commission has filed a lawsuit against Bit Trade alleging non-compliance.

Australia's regulatory body, the Australian Securities and Investments Commission (ASIC), has initiated legal proceedings against Bit Trade Pty Ltd, the provider of the Kraken cryptocurrency exchange for Australian users, for breaching design and distribution obligations related to its margin tradin...

The regulator alleged that Bit Trade — the provider for Kraken in Australia — did not make a target market determination before offering its margin trading product to Australian customers.

The regulator alleged that Bit Trade — which is the provider for Kraken in Australia — did not make a target market determination before offering its margin trading product to Australian customers.