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What will Kraken do in response to the Federal Court ruling by December 31, 2024?
3
Resolution / Starting Odds
Appeal the decision • 25%
Comply with the ruling • 25%
Modify the margin trading product • 25%
Withdraw the margin trading product • 25%
Public statements from Kraken or Bit Trade Pty Ltd
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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Product withdrawal • 25%
Product modification • 25%
Legal appeal • 25%
Other • 25%
Fines imposed • 25%
Operational restrictions • 25%
License revoked • 25%
No actions taken • 25%
Increase compliance measures • 25%
Cease certain services • 25%
Relocate operations • 25%
No significant change • 25%
Kraken wins the lawsuit • 25%
Kraken loses the lawsuit • 25%
Kraken settles the lawsuit • 25%
Lawsuit ongoing • 25%
Unchanged • 25%
Significant operational changes • 25%
Shut down operations • 25%
Other outcome • 25%
Kraken wins • 25%
SEC wins • 25%
Settlement reached • 25%
Other outcome • 25%
Yes • 50%
No • 50%
