U.S. authorities fined Kraken exchange $1.25 million

Commodity Futures Trading Commission (CFTC) has accused a cryptocurrency exchange of serving margin without a license.
U.S. authorities fined Kraken exchange $1.25 million

Cryptocurrency exchange Kraken must pay a $1.25 million fine imposed by the GFTC. This is ​a publication from project cryptodefix. The regulator accused the company of servicing margin trades in digital assets without the proper license.

In addition to the fine, Kraken will have to "stop violating the law as charged." According to the CFTC, from June 2020 to July 2021, the exchange offered products to U.S. customers that violated a provision of the Futures Trading Act.

Mentioned project

Kraken Popular exchange known to many traders working on both the cryptocurrency and the fiat market. KR is a proven and reliable cryptocurrency exchange that provides a huge amount of tools for various types of trading.
Popular exchange known to many traders working on both the cryptocurrency and the fiat market. KR is a proven and reliable cryptocurrency exchange that provides a huge amount of tools for various types of trading.

More interesting

Actual

China blocked access to two popular crypto sites
Former U.S. treasurer names XRP advantage over other cryptocurrencies
Robinhood started testing a cryptocurrency wallet
More…