Australia fines Kraken operators $5 million for regulatory violations
2024-12-12 07:29:07
Kraken's Australian operator, Bit Trade, was required to pay $5 million plus litigation costs. Judge John Nicholas ordered Kraken's Australian operating company, Bit Trade, to pay the fine and bear the litigation costs within 60 days. The court found that Bit Trade had failed to meet its design and distribution obligations and acted as a credit institution without a license.
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