<a href="https://bitcoinworld.co.in/australian-federal-court-rules-against-krakens-bittrade-over-noncompliance/" title="Australian Federal Court Rules Against Kraken’s BitTrade Over Noncompliance" rel="nofollow"></a>
The Australian Federal Court has ruled in favor of the country’s financial regulator, ASIC, against BitTrade, which is the operator of Kraken crypto exchange in Australia.&nbsp; 
<a href="https://www.bittrade.co.jp/ja-jp/" target="_blank" rel="noopener">BitTrade</a> reportedly failed to comply with design and distribution obligations and acted as a credit facility without a license.&nbsp; 
ASIC and Bit Trade have been given seven days to agree on declarations and injunctions. ASIC has declared that it will seek financial penalties against Bit Trade.&nbsp; 
This case sends a message to the crypto industry to comply with regulatory obligations while operating in Australia.

Australian Federal Court Rules Against Kraken’s BitTrade Over Noncompliance

ItsBitcoinWorld

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