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Jonathan Miller, Kraken's managing director for Australia, said he was surprised by the Australian Securities and Investments Commission's (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…