The Office of Foreign Assets Control (OFAC), affiliated with the US Treasury Department, announced that it has reached a settlement with the cryptocurrency exchange Kraken for violating Iran sanctions and will impose fines.
by OFAC November 28 Kraken, the popular US-based cryptocurrency exchange, for “clear violation of sanctions against Iran” in an announcement made on A fine of more than $362,000 It was announced that he was cut off and this punishment was accepted by Kraken. OFAC’s statement, stating that Kraken assumed its potential legal responsibility, was made after a detailed 3-month research process.
In late July, the U.S. Treasury Department filed a lawsuit against Kraken on suspicion of violating certain sanctions against Iran. investigation had started.
In the written statement made by OFAC officials, the following statements were included:
Due to Kraken’s failure to timely implement appropriate geolocation tools, including an automatic internet protocol (IP) address blocking system, Iranian users were mediated to benefit from digital currency services in the post-embargo period.
of the USA 1979Since then, it has imposed sanctions on Iran banning the export of goods or services to businesses and individuals in the country. However, Kraken 2019reported to have resided in Iran since More than 1,500 people It was alleged that he violated these controls by allowing them to have an account on the exchange and offered them the opportunity to buy and sell cryptocurrencies.
Russia-Ukraine Kraken, which refused to block the accounts of Russian users during the war, displayed the same attitude towards Iran. Kraken CEO with a more liberal ideology on this subject Jesse Powell He stated that such a thing was not in question at that time, and that if the service offered to bullying was to be stopped, they should first impose sanctions on US users.
Jesse Powell from his position as CEO at Kraken He announced that he would resign in September.. On the other hand, Kraken has been sanctioned by the United States in recent months. Syria and in Cuba reportedly allowing individuals access to crypto.