Kraken Australia operator Bit Trade must pay $5 million plus the cost of court proceedings after the Federal Court sided with the country’s corporate watchdog.
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A court has found Bit Trade offered a product without following design and distribution obligations and acted as a credit facility, in violation of Australian laws.
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The regulator alleged that Bit Trade — which is the provider for Kraken in Australia — did not make a target market determination before offering its margin trading product to Australian customers.
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The global crypto exchanges industry continues to consolidate as some smaller players bow out and the big players try to gobble up as much as they can of the rest. As part of this trend, Kraken has now taken over the Australian platform Bit Trade in a bit to strengthen its foothold in the Asia […]
The post Kraken Acquires Australian Crypto Platform Bit Trade appeared first on Bitcoin News.
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Crypto exchange Huobi is entering the Japanese market by acquiring a majority stake in one of the 16 government-approved crypto exchanges in the country. The company says it plans to “aggressively scale this trading platform into the largest in Japan,” with an eye on global expansion in the future. Also read: 160 Crypto Exchanges Seek to […]
The post Huobi ‘Aggressively’ Enters Japanese Market With Plans to Become the Largest Exchange appeared first on Bitcoin News.
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