Amitoj Singh is a CoinDesk reporter.
An Australian court ruled in favor of the securities regulator that Kraken's local operator contravened a rule regarding its margin extension product.
Justice Nicholas determined that"By issuing the Product to retail clients without having first made a target market determination for the Product, Bit Trade contravened s 994B of the Corporations Act when read with s 994B." "Overall, we’re disappointed by today’s ruling, but we’re prepared and willing to comply with the court’s decision," a Kraken spokesperson said in a statement sent via email. “We’re pleased the judge understood the nuances in this case, and recognised the challenges in applying existing regulatory frameworks to innovative technologies."
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