ChainCatcher news, the Federal Court of Australia ruled that Kraken's fiat margin expansion is subject to the Design and Distribution Obligations (DDO) under the Corporations Act, while cryptocurrency margin expansion is unrestricted.Kraken acknowledged this and has adjusted its margin products to restrict retail investors from engaging in fiat margin trading, while cryptocurrency margin trading remains unchanged.Kraken also called for clearer regulations for the cryptocurrency industry in Australia, stating that the current legal environment is detrimental to industry innovation and development.

ChainCatcher news, the Federal Court of Australia ruled that Kraken's Australian operator Bit Trade Pty Ltd violated Section 994B of the Corporations Act by failing to conduct a "target market determination" before launching a product, which is a compliance step required by law. Kraken stated that this ruling reflects the ambiguity of cryptocurrency regulations in Australia. While Kraken is committed to complying with the ruling, a company spokesperson believes that the current regulatory framework is unfavorable to investors and calls for legal clarity in the cryptocurrency and Web3 sectors as soon as possible. ASIC plans to seek economic penalties against Bit Trade, and ASIC and Bit Trade have seven days to reach an agreement on the statement and injunction.

ChainCatcher news, according to CoinDesk, an Australian court dismissed the lawsuit by the Australian Securities and Investments Commission (ASIC) against the crypto company Finder, stating that "there is no determination that the Finder Earn product is a bond," and ordered ASIC to pay the defendants' costs.