The US SEC recently banned Kraken's staking service
7 months ago 1 min read

Kraken Crypto Exchange Announces Launch of New Crypto Bank in US Amid Regulatory Challenges

US-based cryptocurrency exchange Kraken is moving forward with its plans to launch a new Wyoming-based crypto bank, despite a recent setback. The US Securities and Exchange Commission (SEC) recently banned Kraken’s staking service, but the exchange has confirmed that Kraken Bank is still on track to launch. Kraken Support responded to a Twitter user’s inquiry, stating that the bank is not open yet but is on its way. The offering will initially be available to existing Kraken clients in the USA, with the potential for international expansion in the future. Kraken officially announced its plans to open a crypto bank,

Kraken crypto exchange settles with SEC
10 months ago 1 min read

Kraken exchange settles allegations of Iran sanctions by paying the US Treasury over $360,000

The U.S. Treasury Department announced on November 28 that American crypto exchange Kraken had agreed to pay more than $362,000 to resolve allegations that it had broken Iranian sanctions. According to the Treasury Department’s Office of Foreign Assets Control (OFAC), Kraken exchange broke American sanctions by allowing Iranian users to conduct transactions totaling more than $1.68 million between October 2015 and June 2019. A comprehensive set of sanctions prohibits the export to Iran of American products, technologies, and services. The crypto exchange was accused by OFAC of improperly implementing tools that track users’ IP addresses and geolocations and block users

Kraken Crypto Exchange
11 months ago 1 min read

Kraken restricts its services to Russian customers

Kraken, a cryptocurrency exchange based in the United States, has joined the list of platforms that restrict services to Russian customers. The decision follows the latest sanctions imposed by the European Union (EU) on the world’s largest country for its invasion of Ukraine. Other trading platforms that have cut relations with Russian users include BlockchainCom, CryptoCom, and others. Russia’s military assault on Ukraine, which began in February, prompted the Western community to respond. Numerous countries put financial and economic sanctions on the aggressor in an attempt to get it to back down, but with little to no success. The bitcoin