PANews December 12 news, the Federal Court of Australia imposed a fine of 8 million Australian dollars (approximately 5.1 million USD) on Bit Trade, the Australian operator of the US cryptocurrency exchange Kraken, and ordered it to pay the fine and legal costs within 60 days. The court found that Bit Trade failed to comply with design and distribution obligations and operated as a credit institution without a license. This fine amount is lower than the 20 million Australian dollars required by the Australian Securities and Investments Commission (ASIC), but higher than the 4 million Australian dollars that Bit Trade hoped for.