According to The New York Times, the crypto exchange has allowed users in Iran to buy and sell digital tokens. 🧐
Kraken has reportedly been under investigation for three years on suspicion of violating U.S. sanctions.
Multiple sources told the newspaper that the Treasury Department began its investigation in 2019 — and a fine is expected. Instead, the trading firm vowed to ensure that trading fees collected from Russian consumers would beUncomfortably for Kraken, internal conversations obtained by the newspaper suggest chief executive Jesse Powell said he was prepared to break the law if the potential benefits of doing so would outweigh fines.
Both Kraken and the Treasury Department have refused to comment publicly on the prospect of an investigation. However, the exchange's chief legal officer Marco Santori said the company "closely monitors compliance with sanctions laws" — and reports "even potential issues" to regulators.Regulators around the world are increasingly worried that cryptocurrencies could be used to blunt the impact of sanctions.
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