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Kraken Slammed With $5.1 Million Fine for Regulatory Breach in Australia

Kraken Slammed With .1 Million Fine for Regulatory Breach in AustraliaAn Australian court fined Kraken $5.1 million AUD for offering a margin lending product to Australian customers without proper regulatory approval. Unlawful Credit Facility An Australian court has fined the digital asset exchange platform Kraken $5.1 million Australian dollars (AUD) for “unlawfully issuing a credit facility to more than 1,100 Australian customers.” The penalty concludes […]

Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

Australia fines Kraken operator $5M for regulatory breaches

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

Australia’s Federal Court fined the Australian operator of United States-based cryptocurrency exchange Kraken 8 million Australian dollars ($5.1 million) after siding with the country’s corporate regulator.

In a Dec. 12 judgment, Justice John Nicholas ordered Bit Trade, which operates Kraken Australia, to pay the fine within 60 days and cover court costs. The court found that Bit Trade failed to comply with design and distribution obligations and acted as a credit facility without a license.

The penalty is less than the $12.8 million sought by the Australian Securities and Investments Commission (ASIC), which Nicholas described as “excessive.” Still, it exceeded Bit Trade’s request to limit the fine to $2.5 million, which the judge deemed “insufficient.”

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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

FWOG, GOAT and SPX are now available for trading!

We’re thrilled to announce that FWOG, SPX and GOAT are now available for trading on Kraken! Funding and trading Fwog, SPX6900,and Goatseus Maximus trading will be live as of 15:30 PM UTC today, December 11, 2024. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’.  […]

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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

NEIRO is available for trading!

We’re thrilled to announce that NEIRO is now available for trading on Kraken! Funding and trading Trading for NEIRO will be live as of 15:00 UTC UTC today, December 5, 2024. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’.  Make sure to deposit your […]

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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

OMNI is available for trading!

We’re thrilled to announce that OMNI is now available for trading on Kraken! Funding and trading Trading for OMNI will be live as of 14:30 PM UTC today, December 4, 2024. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’.  Make sure to deposit your […]

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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

Table stakes: Compliance is essential for crypto platforms

In the crypto industry, compliance is not a choice, it’s mandatory. At the same time, the regulatory landscape is complex and varies across jurisdictions, requiring constant vigilance and adaptation to continue serving as many people as possible.

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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

Expanded margin pairs available for RENDER, RUNE, MEW, TURBO, TON, GALA, EIGEN and ZK!

We’re thrilled to announce that Kraken now supports new margin pairs for Render (RENDER), THORChain (RUNE), Cat in a Dogs World (MEW), Turbo (TURBO), Toncoin (TON), Gala (GALA), Eigenlayer (EIGEN) and ZKsync (ZK)!

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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery