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12/12/2024 1:09:06 PM (GMT+1)

The Australian operator of the Kraken exchange was fined 8 million Australian dollars (5.1 million US dollars) for illegally providing margin trading without a license and violating consumer protection requirements ⚖️

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The Australian Federal Court has ordered Bit Trade, the operator of the Kraken exchange, to pay a fine of 8 million Australian dollars ($5.1 million) for illegally offering margin trading. The company provided clients with access to leverage without a license and target market determination, which led to significant losses for users. ASIC emphasized the need to comply with regulatory requirements to protect investors.


This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.



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