ASIC Investigations and Regulatory Actions on Bit Trade Pty Ltd (Kraken)
Dear Australian Securities and Investments Commission,
I am submitting a Freedom of Information (FOI) request under the Freedom of Information Act 1982 to obtain documents, correspondence, and internal records from 1 January 2021 to present related to ASIC’s investigation, enforcement actions, and regulatory decisions concerning Bit Trade Pty Ltd (ACN 163 237 634), the operator of Kraken in Australia.
Scope of Request
1. ASIC’s Oversight of Bit Trade’s AFSL and External Dispute Resolution (EDR) Compliance
- Internal communications and assessments regarding Bit Trade’s non-membership in AFCA and whether this was considered a breach of s912A(1)(g) of the Corporations Act 2001 (Cth).
- Any exemptions, waivers, or regulatory determinations granted to Bit Trade regarding AFCA membership or alternative dispute resolution mechanisms.
2. Regulatory Decisions and Compliance Exemptions Beyond Publicly Announced Actions
- ASIC, ACCC, ASOC (Attorney-General’s Department), and Treasury correspondence discussing compliance waivers, exemptions, or regulatory relief granted to Bit Trade regarding AFSL obligations and consumer protection laws.
- Documents assessing whether Bit Trade’s terms of service and dispute resolution mechanisms contravene Australian Consumer Law (ACL) or the Competition and Consumer Act 2010 (Cth).
- Any formal or informal engagements between ASIC, ACCC, ASOC, and Treasury regarding Kraken/Bit Trade’s regulatory treatment, compliance approach, or enforcement priorities.
Yours faithfully
Lloyd Butler
Dear Lloyd Butler
I refer to your request dated 22 February 2025 under the Freedom of
Information Act 1982 (FOI Act) in which you seek access to documents in
the possession of the Australian Securities and Investments Commission
(ASIC).
Please find attached letter.
Kind regards
Shoumia Nithiananthan
Lawyer, FOI & Privacy
Information & Data Law, Corporate Legal Services
Australian Securities and Investments Commission
Level 5, 100 Market Street, Sydney NSW 2000
Tel: 9911 2454 [mobile number]
[1][email address]
[2]ASIC logo
-----Original Message-----
From: Lloyd Butler <[3][FOI #12861 email]>
Sent: Saturday, 22 February 2025 3:04 PM
To: FOIrequest <[4][ASIC request email]>
Subject: Freedom of Information request - ASIC Investigations and
Regulatory Actions on Bit Trade Pty Ltd (Kraken)
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Dear Australian Securities and Investments Commission,
I am submitting a Freedom of Information (FOI) request under the Freedom
of Information Act 1982 to obtain documents, correspondence, and internal
records from 1 January 2021 to present related to ASIC’s investigation,
enforcement actions, and regulatory decisions concerning Bit Trade Pty Ltd
(ACN 163 237 634), the operator of Kraken in Australia.
Scope of Request
1. ASIC’s Oversight of Bit Trade’s AFSL and External Dispute Resolution
(EDR) Compliance
- Internal communications and assessments regarding Bit Trade’s
non-membership in AFCA and whether this was considered a breach of
s912A(1)(g) of the Corporations Act 2001 (Cth).
- Any exemptions, waivers, or regulatory determinations granted to Bit
Trade regarding AFCA membership or alternative dispute resolution
mechanisms.
2. Regulatory Decisions and Compliance Exemptions Beyond Publicly
Announced Actions
- ASIC, ACCC, ASOC (Attorney-General’s Department), and Treasury
correspondence discussing compliance waivers, exemptions, or regulatory
relief granted to Bit Trade regarding AFSL obligations and consumer
protection laws.
- Documents assessing whether Bit Trade’s terms of service and dispute
resolution mechanisms contravene Australian Consumer Law (ACL) or the
Competition and Consumer Act 2010 (Cth).
- Any formal or informal engagements between ASIC, ACCC, ASOC, and
Treasury regarding Kraken/Bit Trade’s regulatory treatment, compliance
approach, or enforcement priorities.
Yours faithfully
Lloyd Butler
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Dear Lloyd
I refer to your request dated 22 February 2025 under the Freedom of
Information Act 1982 (FOI Act) in which you seek access to documents in
the possession of the Australian Securities and Investments Commission
(ASIC).
Please find attached Notice of Decision.
Kind regards
Shoumia Nithiananthan
Lawyer, FOI & Privacy
Information & Data Law, Corporate Legal Services
Australian Securities and Investments Commission
Level 5, 100 Market Street, Sydney NSW 2000
Tel: 9911 2454 [mobile number]
[1][email address]
[2]ASIC logo
Please consider the environment before printing this document.
Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.
This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.
References
Visible links
1. mailto:[email address]
3. https://asic.gov.au/privacy/
Dear Lloyd
I refer to your request dated 22 February 2025 under the Freedom of
Information Act 1982 (FOI Act) in which you seek access to documents in
the possession of the Australian Securities and Investments Commission
(ASIC).
Please find attached Notice of Decision.
Kind regards
Shoumia Nithiananthan
Lawyer, FOI & Privacy
Information & Data Law, Corporate Legal Services
Australian Securities and Investments Commission
Level 5, 100 Market Street, Sydney NSW 2000
Tel: 9911 2454 [mobile number]
[1][email address]
[2]ASIC logo
Please consider the environment before printing this document.
Information collected by ASIC may contain personal information. Please
refer to our [3]Privacy Policy for information about how we handle your
personal information, your rights to seek access to and correct
your personal information, and how to complain about breaches of your
privacy by ASIC.
This e-mail and any attachments are intended for the addressee(s) only and
may be confidential. They may contain legally privileged, copyright
material or personal and /or confidential information. You should not
read, copy, use or disclose the content without authorisation. If you have
received this email in error, please notify the sender as soon as
possible, delete the email and destroy any copies. This notice should not
be removed.
References
Visible links
1. mailto:[email address]
3. https://asic.gov.au/privacy/