Crypto exchange Kraken reportedly hunted by the Feds for Iran sanctions busting
The US government is reportedly investigating Kraken, a massive cryptocurrency exchange suspected of violating sanctions against Iran, and is expected to slap the crypto behemoth with a fine in the near future.
The Treasury Department's Office of Foreign Assets Control has been probing the US crypto exchange since 2019, according to the New York Times, which broke the"The Treasury does not confirm or comment on potential or ongoing investigations. We remain committed to using all of our tools and authorities to enforce the sanctions that protect US national security,"US sanctions against Iran prohibit any exports to the Mid-East nation.
If the rumors are true, Kraken would be the largest US crypto firm to face an Office of Foreign Assets Control enforcement action related to sanctions against Iran, we're told. Kraken closely monitors compliance with sanctions laws and, as a general matter, reports to regulators even potential issues's specific questions about the reported investigation and pending fine. Instead, Kraken's Chief Legal Officer Marco Santori emailed a statement."Kraken has robust compliance measures in place and continues to grow its compliance team to match its business growth.
Kraken's reported federal probe follows a series of US enforcement actions against crypto companies and their executives as law enforcement — and juries — increasingly crack down on criminals using crypto business toLast week the Feds announced
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