Kraken fined $8M in Australia for unlawful margin trading

The Australian Securities and Investments Commission (ASIC) launched legal proceedings against the Australian operator of the Kraken crypto exchange. The Federal Court has ordered Bit Trade Pty Ltd (Kraken’s AUS operator) to pay $8 million for unlawfully offering a “margin extension” product without proper regulatory measures. The watchdog alleged that the exchange illegally issued a […] source: https://www.cryptopolitan.com/kraken-fined-8m-australia-margin-trading/