Page 2 - Bit Trade News Today

Jonathan Miller, Krakens managing director for Australia, said he was surprised by the Australian Securities and Investments Commissions (ASIC) move as Bit Trade was complying with the regulations.

Bit Trade, the Australian supplier of the Kraken cryptocurrency exchange, is being sued by the Australian regulator.

The ASIC has initiated legal proceedings against Bit Trade, the operator of the Kraken cryptocurrency exchange in Australia.

The corporate regulator has said the local operator of the exchange will be prosecuted over a margin trading product, where consumers lost $13 million.

The Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings against Bit Trade, the provider of the Kraken crypto…

The Australian Securities and Investments Commission has sued Bit Trade, the provider for Kraken in Australia over its margin trading product.

ASIC has commenced civil penalty proceedings against Bit Trade, provider of crypto exchange Kraken, following alleged failures to adhere to design and distribution obligations for margin products offered to Australian customers.

Australia's corporate regulator has initiated civil proceedings against Bit Trade Pty Ltd for failing to comply with design and distribution obligations for its margin trading product.

The design and distribution obligations (DDO) require firms to design financial products that meet the needs of consumers and distribute them in a targeted manner.

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