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What will be the future of Kraken's operations in Australia by August 31, 2025?
3
Resolution / Starting Odds
Continue operations as usual • 25%
Scale down operations • 25%
Exit the Australian market • 25%
Expand operations • 25%
Public statements from Kraken or regulatory bodies
Story
Australia's Federal Court Sides with ASIC Against Kraken's Operator Bit Trade Pty Ltd
Aug 23, 2024, 06:46 AM
Australia's Federal Court has ruled in favor of the Australian Securities and Investments Commission (ASIC) in a case against Bit Trade Pty Ltd, the operator of Kraken's cryptocurrency exchange in the country. The court found that Bit Trade contravened a section of the Corporations Act by failing to meet design and distribution obligations for a margin trading product. Kraken has attributed the court loss to unclear cryptocurrency regulations in Australia.
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Similar markets
Increased market position • 25%
No change in market position • 25%
Decreased market position • 25%
Unclear impact • 25%
Increase compliance measures • 25%
Cease certain services • 25%
Relocate operations • 25%
No significant change • 25%
Market leader • 25%
Top 3 • 25%
Top 5 • 25%
Outside top 5 • 25%
Continues operations as is • 25%
Operational restrictions • 25%
Significant fines • 25%
Ceases operations in the U.S. • 25%
Fines imposed • 25%
Operational restrictions • 25%
License revoked • 25%
No actions taken • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%