Australia: Public lawsuit against Bit Trade by ASIC for alleged design and distribution failures
Progress
Current status
under investigation
23 Aug 2024 under investigation
21 Sep 2023 under deliberation
Scope
Implementers
Australia
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
judiciary
executive
Government Body
court
other regulatory body
Implementation Level
national
Timeline of events
Issued ruling in public lawsuit against Bit Trade by ASIC for alleged design and distribution failures
On 23 August 2024, the Australian Securities and Investments Commission (ASIC) announced a Federal Court had ruled in their favor in the public lawsuit filed against Bit Trade on 21 September 2023. Bit Trade is the Australian provider of the Kraken …
SourceEvent type
decision
Action type
interim ruling
Government branch
judiciary
Government body
court
Announced public lawsuit against Bit Trade by ASIC for alleged design and distribution failures
On 21 September 2023, the Australian Securities and Investments Commission (ASIC) announced civil penalty proceedings against Bit Trade. Bit Trade is the Australian provider of the Kraken cryptocurrency exchange. ASIC alleges that Bit Trade failed t…
SourceEvent type
public lawsuit
Action type
announcement
Government branch
executive
Government body
other regulatory body