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Kraken Exposes Australia’s Regulatory Chaos, Slams ASIC
Cryptocurrency exchange Kraken has highlighted regulatory uncertainty in Australia in response to a recent Federal Court ruling against its fiat margin trading product. The exchange expressed concerns about the confusing and uncertain regulatory environment in which Australian crypto businesses and investors currently operate. The court’s decision has brought into focus the broader issue of regulatory…
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ASIC Crushes Kraken Operator Bit Trade in Legal Battle
Bit Trade’s Legal Woes: ASIC’s Victory and Implications The recent court ruling against Bit Trade by the Australian Securities and Investments Commission (ASIC) sheds light on the company’s failure to comply with design and distribution obligations. This case highlights the importance of regulatory adherence in the cryptocurrency industry. Bit Trade, operating Kraken in Australia, faced…
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Kraken’s Australian Entity Loses Major Legal Battle to ASIC: What’s Next?
In the rapidly evolving landscape of cryptocurrency regulation, the Federal Court of Australia’s recent decision against Bit Trade Pty Ltd, the local operator for the cryptocurrency exchange Kraken, marks a pivotal moment. This ruling sheds light on the importance of compliance with the Corporations Act, particularly concerning the provision of margin extension products to retail…
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600 Crypto Scams Busted: ASIC Alerts on Rising AI Dangers
In recent developments, Australia’s financial watchdog, the Australian Securities and Investments Commission (ASIC), has significantly ramped up its efforts to curtail the proliferation of online investment scams, especially those revolving around the cryptocurrency sphere. The past year has seen ASIC dismantle over 600 crypto scams, highlighting a determined push against digital financial fraud. Australia Amplifies…
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Discover How ASIC Crushed Over 600 Crypto Frauds in a Year
ASIC Targets Over 600 crypto Scams in a Major Crackdown A significant crackdown has been carried out by Australia’s financial watchdog, the Australian Securities and Investments Commission (ASIC), targeting the proliferating menace of cryptocurrency scams. In an aggressive move to safeguard investors, the regulator reported a substantial takedown of over 600 fraudulent schemes in the…
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ASIC Crushes 600+ Crypto Scams: Your Must-Read Guide
Australia Takes Stride Against crypto Scams Australia’s ASIC has been actively cracking down on fraudulent investment schemes and crypto scams proliferating through fake trading platforms and social media. The regulator has successfully shut down over 5,500 fraudulent investment sites, 1,000 phishing links, and 615 crypto scam websites since July 2023. These scams, often endorsed by…