Kraken, one of the largest digital asset exchanges in the United States, has agreed to pay a $1.25 million fine to settle U.S. Commodity Futures Trading Commission (CFTC) charges it illegally offered certain transactions in digital assets and failed to register as required with the agency.
WASHINGTON: Kraken, one of the largest digital asset exchanges in the United States, has agreed to pay a $1.25 million fine to settle U.S. Commodity Futures Trading Commission (CFTC) charges it illegally offered certain transactions in digital assets and failed to register as required with the agency.
From June 2020 to July 2021, Ventures Inc, doing business as Kraken, offered margined retail commodity transactions in digital assets to U.S. customers who were not eligible. The firm also failed to register as a futures commission merchant, the CFTC said in a statement.
The company agreed to pay the civil penalty and to cease and desist from further violations.
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