SEC Now Keeping a Watchful Eye on Kraken Exchange

Recently, it was Binance that came under the hammer of the SEC, but now it’s Kraken’s turn. Kraken’s information is currently being investigated. This is coming after the crypto exchange was said to have been caught defying the crypto rule placed on Iran.

A statement released by New York Times revealed that Kraken has been allowing individuals from Iran to trade electronic properties on its platform. This matter stems from the ban which was placed on Iran by the United States. This ban restricts Iran from engaging in international trade with them.

Further Details
This issue went public when a former worker at Kraken, alleged that the company has been into prohibited transactions despite restriction laws that have been put in place. Subsequently, authorities took on the issue, and they have been probing operation information in Iran. Some even opined that Kraken has also been operating in other banned nations such as Cuba and Syria. And, all these operations were done against the law.

Also in 2021 Kraken exchange sold the electronic property off its platform, and didn’t register with the SEC. Subsequently, the exchange was penalized by asking to pay a fine of $1.25 million. Kraken could be in serious trouble this time, as it could face stiffer punishment for its illegal operations.

Teach yourself technical analysis: Technical Analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Capital Spreads

• 

  James Cummings

• 

  Jekyll & Hyde

• 

  Luis Aureliano