The United States fines the cryptocurrency exchange Kraken for allegedly violating anti-Iranian sanctions
The New York Times newspaper reported on Tuesday local time that Kraken, one of the world’s largest digital currency exchanges, has been prosecuted for allegedly violating US Treasury Department sanctions by allowing Iranian people to buy and sell digital currencies.
Citing informed officials, this American media reported that the Foreign Assets Control Office of the US Treasury Department has been investigating Kraken’s activities in this field since 2019 and will probably fine this exchange.
If this exchange is fined, Kraken will be the largest digital currency company in the United States to face action by the Office of Foreign Assets Control of the US Department of the Treasury in connection with sanctions against Iran.
The United States imposed these sanctions against Iran in 1979 based on the ban on the export of goods or services to Iranian individuals or entities.
In October 1400, the US Department of Treasury forced cryptocurrency exchanges and companies providing digital wallets to block the access of countries under US sanctions by using geo-location technology and tools.
According to Iran Economist, the US Department of Treasury claimed in a statement that it has announced more measures to help the virtual currency industry to prevent the abuse of sanctioned persons and other illegal actors, and these measures are part of the concentrated and integrated effort of the Joe Biden government to deal with with the threat of ransomware.
In the statement of the US Department of Treasury, it was claimed: the private sector by applying appropriate sanctions and combating money laundering and combating the financing of terrorism to prevent the misuse of digital currencies by sanctioned persons and other illegal actors and to undermine the foreign policy of the United States and the interests of national security. , plays a key role.
According to this statement, the requirements of compliance with sanctions apply to the digital currency industry in the same way as traditional financial institutions, and civil and criminal penalties are considered for non-compliance.
The U.S. Treasury Department added: “The guidance issued today provides an overview of sanctions requirements and examples of best compliance practices for actors in the field, including technology companies, exchanges, managers, miners, and digital wallet providers, as well as more traditional financial institutions that may deals with cryptocurrencies.