Kraken Under Investigation for Alleged Sanctions Violations: Report

Crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department on suspicion it allowed Iranian users to use the site's services in violation of federal sanctions.

The New York Times reported Tuesday that the Treasury Department was likely to impose a fine against the exchange, though it did not suggest a timeline for the enforcement action.

A spokesperson for Kraken did not immediately return a request for comment.

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