**Kraken Gets Fine, But Stays Cool! 🦑**

- The Australian Federal Court has fined Bit Trade, the Australian operator of Kraken, $8 million for offering a margin lending product without approval. Oops!

- ASIC accused Bit Trade of breaking the rules by failing to assess the suitability of the product for customers. Turns out, over 1,100 Aussie clients were affected!

- The product allowed users to invest with borrowed funds, but unfortunately without a Target Market Determination (TMD).

- ASIC stressed the importance of TMDs to protect consumers. ASIC Chairman Joe Longo called the decision an important reminder for digital asset companies.

- Kraken is disappointed, hoping for clearer crypto regulations. Let's discuss your thoughts in the comments column!