What happened
Recently, an Australian Federal Court issued a judgment in a lawsuit filed by ASIC against Kraken concerning the availability of our Margin Extension product to Australian retail investors.
We adamantly believe that our clients deserve access to innovative crypto products. We supported the Court’s effort to seek clarification around our Margin Extension product, which we believed fully complied with local laws.
At the heart of the judgment, the Court determined that when we extended margin in fiat currency to clients it was (and is) subject to the Design and Distribution Obligations (DDO) of the Corporations Act. However, this was not the case when we extended margin to clients in cryptocurrency.
Why this matters
Considering the bigger picture, the Court’s decision was a win for those of us that are advocating for new l ..
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