Kraken's Australian subsidiary Bit Trade has recently encountered trouble! According to ChainCatcher, Judge John Nicholas ruled that Bit Trade must pay a $5 million fine within 60 days and bear the litigation costs. The reason is that Bit Trade failed to fulfill its design and distribution obligations and acted as a credit institution without a license. 💼

This incident reminds us that compliance is crucial for crypto exchanges. While the market is full of opportunities, adhering to laws and regulations is equally important. 📊

For investors, choosing a compliant trading platform can effectively reduce risks. 🔍