Kraken Slapped with $5.1M Fine for Shady Margins

Australia’s ASIC just fined Kraken’s operator, Bit Trade, A$8M after more than 1,100 users got wrecked on a margin trading product.

The issue? Pushing credit-like loans in BTC and fiat without proper guardrails. Losses topped $5M before regulators stepped in.

Lesson for the space: Compliance isn’t optional, even in the wild world of crypto.

Source: Investing.com$BTC