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.

Cryptocurrency exchange Kraken must pay a $1.25 million fine imposed by the GFTC. 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. Information material from company cryptodefix.com. customers that violated a provision of the Futures Trading Act.

Mentioned project

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.