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The US Fines Kraken $1.25M For Illegal Crypto Trading By CoinQuora

by Mike Robinson

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The US Fines Kraken $1.25M For Illegal Crypto Trading
  • Kraken fined for offering illegal trading services.
  • The U.S. fined Kraken $1.25M for illegal crypto trading.
  • Kraken has reduced its margin for crypto assets since June 2021.

Kraken — one of the world’s leading crypto exchanges has been penalized by the United States Commodity Future Trading Commission (CFTC). The settlement fee for the CFTC will be $1.25million. This follows Kraken’s alleged illegal trading services.

According to the CFTC, Kraken was not registered as a legal trader. The report states that Kraken failed to comply with the Commodities Exchange Act, which allows it to offer margin cryptocurrency products beginning in June 2020. It offered margin ratios up to 5.

According to the official press release, Kraken failed to register as either a Future Commodity Merc…

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