From legalvision.com.au: The Federal Court of Australia ruled that Kraken’s “Margin Extension” product qualifies as a credit facility, necessitating compliance with Australian financial regulations, including the issuance of a Target Market Determination.

The decision emphasises the importance for FinTech and crypto businesses to properly classify their products and adhere to regulatory requirements when offering financial services.

Filed under: ASIC, Business Law, Cryptocurrency