Cryptocurrency exchange Kraken is under investigation for violating US sanctions.
The U.S. Treasury Department has been investigating Kraken since 2019 and is expected to impose a fine on the company, according to the New York Times.
According to the New York Times, the firm violated US sanctions by allowing users in Iran, Cuba and Syria to trade digital assets. The investigation is conducted by the Treasury Department’s Foreign Assets Control Office.
US sanctions on Iran have been in place since 1979. According to the Kraken chart shared by the New York Times, the cryptocurrency exchange has more than 1,500 users residing in Iran.
Kraken CEO Jesse Powell also opposed calls for Russian users to freeze their accounts.
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