Kraken fined $8M in Australia

Australia orders $5.1 million fine on Kraken crypto exchange operator
Australia's corporate watchdog said on Thursday that the country's federal court ordered crypto exchange Kraken's local operator to pay an A$8 million ($5.1 million) fine for unlawfully issuing a credit facility to more than 1,
Kraken's Australian Exchange Operator Fined $5.1 Million for High-Risk Margin Trading Products
The Australian securities regulator has fined Kraken for offering high-risk margin trading products without proper screening.
Kraken fined $5.1M in Australia for breaching crypto credit rules
Australia's court fines Kraken $5.1M for illegally offering credit facilities as ASIC emphasizes compliance with crypto regulations.
Australia fines Kraken operator $5.1 million in legal ruling
In a landmark decision, Australia’s Federal Court has ordered Bit Trade, the Australian operator of the US-based cryptocurrency exchange Kraken, to pay a fine of 8 million Australian dollars ($5.1 million).
Australia Regulator Fines Kraken Operator $8M over Unauthorized Product Offerings
The Federal Court of Australia identified Kraken’s compliance system as ‘seriously deficient’ after repeated regulatory breaches.
Australia fines Kraken operator $5 million for non-compliance
Kraken operator in Australia Bit Trade will pay a $5.1 million fine for non-compliance with regulatory requirements. The Australian Securities and Investment Commission accused the crypto platform of offering a credit facilty that did not comply with regulations.
ASIC Imposes $8M Fine on Kraken Crypto Exchange Over Regulatory Breach
ASIC fines Kraken for unlawfully issuing a ‘margin extension’ product to customers without a target market determination.
Australia Fines Kraken’s Operator Bit Trade $5 Million for Regulatory Violations
Australia fined Kraken's operator, Bit Trade, $5M for violating financial regulations, highlighting concerns over its compliance practices
Australia orders $5.1 mln fine on Kraken crypto exchange operator
Australia's corporate watchdog said on Thursday that the country's federal court ordered crypto exchange Kraken's local operator to pay an A$8 million ($5.1 million) fine for unlawfully issuing a credit facility to more than 1,
Kraken Axes NFT Marketplace. Here's What to Do if You Have NFTs on This Crypto Exchange
Kraken, a large US-based cryptocurrency exchange, is shuttering its NFT marketplace after launching the service about two years ago. Kraken announced the closure in late November. Kraken users have until early next year to transfer their NFTs from the marketplace into a crypto wallet.
Kraken Operator Bit Trade Fined $5.2M in ‘Significant Outcome’ for Crypto Enforcement
The Australian financial watchdog has ordered Bit Trade Pty, Kraken’s Australian operator, to pay a hefty fine for illegally issuing unvetted customers credit. One Australian
Kraken Fined in Australia for Legal Violations Resulting in Financial Losses to Citizens
Kraken is said to be disappointed with this outcome US-based Kraken was founded in 2011 Kraken’s Australia counterpart Bit Trade has 60 days to clear fine ...
Financial Standard48m
Crypto operator to fork out millions after court ruling
Bit Trade, the operator of the Kraken Exchange in Australia, has been slapped with an $8 million fine for "unlawfully issuing a credit facility to more than 1100 customers," according to ASIC.
Startup Daily19h
Crypto exchange Kraken cops $8m fine for unlawful credit with ‘margin extension’ that cost more than 1000 customers millions in losses
The 1,160 customers who used the margin extension paid fees and interest charges costing more than A$10 million, and lost ...