{"id":70712,"date":"2022-11-29T10:47:00","date_gmt":"2022-11-29T08:47:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70712"},"modified":"2025-09-08T03:51:35","modified_gmt":"2025-09-08T00:51:35","slug":"kraken-to-pay-362000-for-iran-sanctions-violations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kraken-to-pay-362000-for-iran-sanctions-violations\/","title":{"rendered":"Kraken to pay $362,000 for Iran sanctions violations"},"content":{"rendered":"<p>The cryptocurrency exchange Kraken has agreed to pay $362,000 to settle sanctions violations against Iran, <a href=\"https:\/\/home.treasury.gov\/policy-issues\/financial-sanctions\/recent-actions\/20221128\" title=\"according to\">according to<\/a> <span data-descr=\"U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC)\" class=\"old_tooltip\">OFAC<\/span>.<\/p>\n<p>The platform voluntarily disclosed violations that occurred between October 2015 and June 2019. During this period Kraken processed 826 transactions totaling $1.7 million for users located in Iran.<\/p>\n<p>According to OFAC, this was possible because the exchange had not implemented an IP-blocking system for addresses associated with sanctioned jurisdictions.<\/p>\n<p>After discovering the issue, Kraken began using blockchain analytics tools to monitor illicit activity. The company also appointed a dedicated head of sanctions to lead its compliance efforts.<\/p>\n<p>To settle the claims, Kraken is investing $100,000 in compliance controls, in addition to the fine.<\/p>\n<p>As Reuters reported, since 2018 the cryptocurrency exchange Binance processed Iran-related transactions <a href=\"https:\/\/forklog.com\/en\/news\/reuters-binance-processed-iran-related-transactions-totaling-8-billion-in-circumvention-of-u-s-sanctions\"> worth $8 billion <\/a>, despite U.S. sanctions on the country.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Kraken has agreed to pay $362,000 to settle U.S. sanctions violations against Iran.<\/p>\n","protected":false},"author":1,"featured_media":70713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1304,840,193,686,1490],"class_list":["post-70712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fines","tag-iran","tag-kraken","tag-sanctions","tag-us-treasury"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70712"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70712\/revisions"}],"predecessor-version":[{"id":70714,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70712\/revisions\/70714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70713"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}