Coin

<ul class="news-points"> 
 <li>Australian regulator has commenced a lawsuit against Bit Trade Pty Ltd, the company behind the crypto exchange Kraken.</li> 
 <li>The ASIC said the margin trading product on Kraken is a credit facility and has resulted in over $12m in losses.</li> 
 <li>The regulator said its lawsuit against Bit Trade will send a message to other crypto entities in the country.</li> 
</ul> 
Australian Securities and Investments Commission (ASIC) has commenced a lawsuit against Bit Trade Pty Ltd, provider of the <a href="https://coinedition.com/tag/kraken-news/">crypto exchange Kraken</a> in Australia, for violation of its law and design requirements, an official statement details. According to the regulator, the default by Bit Trade has led to $12.95 million in losses. 
In particular, the <a href="https://coinedition.com/australian-regulator-sues-etoro-exchange-for-breaching-obligations/">Australian regulator</a> accused Bit Trade of failing to comply with its design and distribution obligations for margin trading products. As per the published statement, the obligation is required by law and also extends to products not considered financial products by the issuer. 
According to the ASIC, the margin trading product on the Kraken exchange is a credit facility as it gives customers access to credit to trade certain crypto assets.&nbsp; Even though Bit Trade described the cr…
The post <a rel="nofollow" href="https://coinedition.com/asic-drags-kraken-exchange-to-court-over-its-margin-trading-product/">ASIC Drags Kraken Exchange To Court Over its Margin Trading Product</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

ASIC Drags Kraken Exchange To Court Over its Margin Trading Product

Coin Edition

2023년 9월 21일에 게재된 다른 기사

Shiba Inu Burns Over 130 Million Tokens, Is a Breakout Looming?

ET Stock Price Prediction: Can Energy Transfer Stock Gain More?

Web3 phone METAVERTU: Genesis Block’s 0th mobile machine in the blockchain

Stellar, Algorand and Tradecurve Markets – Three Altcoins to Add to Your Portfolio in 2023

Former FCA Chair Reveals Pressure to Approve Crypto Firms Facing U.S. Investigations

Linear Finance’s LUSD Stablecoin Under Potential Exploit Attack

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!