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Kraken Calls for Clear Crypto Rules in Australia After ASIC Ruling

1️⃣Kraken has officially lost its court case with Aussie regulators ASIC, with the Federal Court finding the exchange violated the Corporations Act.
2️⃣This resulted in Kraken pulling its fiat Margin Extension service from the majority of its customer base.
3️⃣Despite the blow to its product line, Kraken believed the ruling could be good news as it highlighted the need for regulatory reform in the crypto space.
4️⃣Kraken believes current regulations in Australia stifle innovation and cause crypto companies to remain in the dark when operating Down Under.

Kraken Calls for Clear Crypto Rules in Australia After ASIC Ruling

1️⃣Kraken has officially lost its court case with Aussie regulators ASIC, with the Federal Court finding the exchange violated the Corporations Act.
2️⃣This resulted in Kraken pulling its fiat Margin Extension service from the majority of its customer base.
3️⃣Despite the blow to its product line, Kraken believed the ruling could be good news as it highlighted the need for regulatory reform in the crypto space.
4️⃣Kraken believes current regulations in Australia stifle innovation and cause crypto companies to remain in the dark when operating Down Under.

https://cryptonews.com.au/news/kraken-calls-for-clear-crypto-rules-in-australia-after-asic-ruling-123262/