[Australian court supports regulator ASIC in case against Kraken domestic operator Bit Trade] Golden Finance reported that on Thursday evening, the Australian Federal Court ruled that Bit Trade failed to comply with the legal obligations regarding the design and distribution of margin trading products mentioned in the civil penalty procedure initiated by the Australian Securities and Investments Commission (ASIC) in September. Bit Trade Pty Ltd is Kraken's cryptocurrency exchange operator in Australia. Bit Trade's "margin extension" product, which has been available to Kraken's Australian customers since October 5, 2021, is at the heart of the case. The court ruled that Bit Trade violated the law by providing the product without the necessary target market determination (TMD), which is a requirement of the Australian Corporations Act.