Kraken Australia Risk Report

⚖️ Legal & Regulatory

Kraken Australia has faced significant legal and regulatory challenges, resulting in substantial financial penalties. These regulatory issues underscore the company's critical need for compliance improvements to avoid further financial and operational impacts. The implications of these penalties and lawsuits necessitate a strategic focus on strengthening legal frameworks to align with Australian regulations.

• Australia’s federal court ruled against Kraken's operator Bit Trade, which led to a substantial fine of $8 million 🗓 December 13, 2024, for operating an unlawful credit facility.
• Kr​aken Australia was fined $5.1 million by ASIC for regulatory breaches 🗓 December 12, 2024.
• The exchange operator faced legal consequences regarding margin trading violations 🗓 August 23, 2024, incurring dual setbacks in both the US and Australia.
• Federal court rulings in Australia resulted in considerable penalties for failing to comply with legal obligations 🗓 August 23, 2024.