The Australian court fined Bit Trade, the operator of the Kraken exchange, $8 million for an unauthorized margin product. 🚨 ASIC claims that the company violated rules by not verifying the suitability of clients. Over 1,100 Australians were affected, losing $7.85 million.

ASIC emphasizes the importance of regulatory compliance to protect investors. Kraken is disappointed, calling for clear crypto laws. 🏛️ Discussions are ongoing!