The Australian Securities and Investments Commission (ASIC) has initiated civil proceedings against Bit Trade Pty Ltd. The company allegedly failed to comply with design and distribution obligations (DDO) for its margin trading product, a violation that has led to significant customer losses. According to a Sept. 20 filing, the Australian Securities and Investments Commission has begun legal proceedings against Bit Trade Pty Ltd, the firm responsible for delivering the Kraken cryptocurrency exchange services to Australian clients. The DDO framework, established to safeguard consumers, requires firms to design financial products that cater to the needs of customers and distribute them in a targeted and responsible manner. ASIC’s allegations against Bit Trade revolve around the failure to make a target market determination for its margin trading product before offering it to Australian customers, as required by law.
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RAIN
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ZEC
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ADA
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XLM
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$0.99978
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BCH
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USD1
$0.999729
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USDE
$0.999661
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GRAM
$1.34
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Mkt Cap $2.30T
BTC Dom 56.83 %
BTC
$65,006.00
▲ +0.40%
ETH
$1,914.61
▲ +0.40%
USDT
$0.999306
▲ +0.00%
BNB
$590.72
▼ -0.70%
USDC
$0.999623
▲ +0.00%
XRP
$1.03
▼ -1.00%
SOL
$73.54
▲ +0.30%
TRX
$0.326609
▼ -0.20%
FIGR_HELOC
$1.04
▲ +1.50%
HYPE
$56.68
▲ +2.10%
DOGE
$0.069563
▲ +0.60%
USDS
$0.99978
▲ +0.00%
RAIN
$0.01273
▲ +1.30%
LEO
$9.77
▲ +0.20%
ZEC
$510.34
▲ +1.10%
ADA
$0.202532
▲ +7.20%
XMR
$368.54
▲ +1.00%
WBT
$56.16
▲ +0.10%
LINK
$8.22
▲ +1.30%
XLM
$0.161906
▲ +0.80%
DAI
$0.99978
▲ +0.00%
BCH
$215.81
▲ +1.60%
USD1
$0.999729
▲ +0.00%
USDE
$0.999661
▲ +0.00%
GRAM
$1.34
▼ -3.00%
BTC
$65,006.00
▲ +0.40%
ETH
$1,914.61
▲ +0.40%
USDT
$0.999306
▲ +0.00%
BNB
$590.72
▼ -0.70%
USDC
$0.999623
▲ +0.00%
XRP
$1.03
▼ -1.00%
SOL
$73.54
▲ +0.30%
TRX
$0.326609
▼ -0.20%
FIGR_HELOC
$1.04
▲ +1.50%
HYPE
$56.68
▲ +2.10%
DOGE
$0.069563
▲ +0.60%
USDS
$0.99978
▲ +0.00%
RAIN
$0.01273
▲ +1.30%
LEO
$9.77
▲ +0.20%
ZEC
$510.34
▲ +1.10%
ADA
$0.202532
▲ +7.20%
XMR
$368.54
▲ +1.00%
WBT
$56.16
▲ +0.10%
LINK
$8.22
▲ +1.30%
XLM
$0.161906
▲ +0.80%
DAI
$0.99978
▲ +0.00%
BCH
$215.81
▲ +1.60%
USD1
$0.999729
▲ +0.00%
USDE
$0.999661
▲ +0.00%
GRAM
$1.34
▼ -3.00%
Mkt Cap $2.30T
BTC Dom 56.83 %
BTC
$65,006.00
▲ +0.40%
ETH
$1,914.61
▲ +0.40%
USDT
$0.999306
▲ +0.00%
BNB
$590.72
▼ -0.70%
USDC
$0.999623
▲ +0.00%
XRP
$1.03
▼ -1.00%
SOL
$73.54
▲ +0.30%
TRX
$0.326609
▼ -0.20%
FIGR_HELOC
$1.04
▲ +1.50%
HYPE
$56.68
▲ +2.10%
DOGE
$0.069563
▲ +0.60%
USDS
$0.99978
▲ +0.00%
RAIN
$0.01273
▲ +1.30%
LEO
$9.77
▲ +0.20%
ZEC
$510.34
▲ +1.10%
ADA
$0.202532
▲ +7.20%
XMR
$368.54
▲ +1.00%
WBT
$56.16
▲ +0.10%
LINK
$8.22
▲ +1.30%
XLM
$0.161906
▲ +0.80%
DAI
$0.99978
▲ +0.00%
BCH
$215.81
▲ +1.60%
USD1
$0.999729
▲ +0.00%
USDE
$0.999661
▲ +0.00%
GRAM
$1.34
▼ -3.00%
