Kraken settles with US Treasury's OFAC for violating US sanctions By Cointelegraph

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Kraken settles with US Treasury's OFAC for violating US sanctions

Cryptocurrency Nov 28, 2022 04:00PM ET

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Kraken settles with US Treasury's OFAC for violating US sanctions

The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, has announced a settlement with crypto exchange Kraken for “apparent violations of sanctions against Iran.”

In a Nov. 28 announcement, OFAC said Kraken had agreed to pay more than $362,000 as part of a deal “to settle its potential civil liability” related to violating the United States’ sanctions against Iran. The U.S.-based crypto exchange will also be investing $100,000 into sanctions compliance controls as part of the agreement with Treasury.

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Kraken settles with US Treasury's OFAC for violating US sanctions

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