US crypto exchange Kraken suspected of violating sanctions: NYT

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Cryp­tocur­ren­cy exchange Krak­en is under fed­er­al inves­ti­ga­tion for poten­tial vio­la­tion of US sanc­tions by allow­ing users in Iran and else­where to buy and sell dig­i­tal tokens, the New York Times report­ed, cit­ing peo­ple with knowl­edge of the matter.

The US Trea­sury Depart­men­t’s Office of For­eign Assets Con­trol has been inves­ti­gat­ing Krak­en since 2019 and is expect­ed to impose a fine, accord­ing to the report. 

Krak­en said it does not com­ment on spe­cif­ic dis­cus­sions with reg­u­la­tors, while a Trea­sury spokesper­son declined to comment.

Pri­vate­ly held Krak­en is the lat­est cryp­tocur­ren­cy com­pa­ny to come under the reg­u­la­to­ry scan­ner, as the rapid­ly grow­ing indus­try gets caught in the crosshairs of the fed­er­al government.

Pub­lished on

July 27, 2022

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