Kraken Under Investigation for suspicion of violating sanctions

[Maniés]

Kraken is one of the more established crypto exchanges on the market. The platform is up with top-notch security, more than 120 coins to choose from domestically and up to 160 coins for international users. The platform also boasts the ability to stake and earn rewards for your crypto, all at a price point on the lower side of average. This company launched just 2 years after Bitcoin!

Kraken is reportedly under investigation by the U.S. Treasury Department on suspicion it allowed Iranian users to utilize the site's services in violation of federal sanctions. The U.S Treasury Department was likely to impose a fine against the exchange, although it did not suggest a timeline for the enforcement action. 

The platform is the latest cryptocurrency company to come under regulatory scrutiny as the fast-growing industry gets federal attention

Federal sanctions have long been a tool for the U.S. government to block individuals or nations from accessing the global financial system. Multiple crypto-users and addresses in Iran have been sanctioned in the past.