Kraken reached a settlement with the U.S. Treasury Department, agreeing to pay over $360,000 for violations of Iran sanctions

ChainCatcher news, the cryptocurrency exchange Kraken will pay over $360,000 as part of a settlement with the U.S. Department of the Treasury, and will additionally invest $100,000 to improve its compliance tools. The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury stated that Kraken processed over 800 transactions from users seemingly located in Iran between 2015 and 2019, valued at approximately $1.68 million.

ChainCatcher previously reported that Kraken is under investigation by the U.S. federal authorities for allegedly violating U.S. sanctions by allowing users from Iran and elsewhere to buy and sell digital tokens. (Decrypt)