Kraken is among the world’s largest cryptocurrency exchanges which is currently undergoing a federal investigation. The crypto exchange has been suspected of violating U.S sanctions by allowing users in Iran to trade cryptocurrencies.
This alleged violation was discovered through five people who were associated with the company or with the knowledge of the inquiry. This investigation is being carried out by United States Treasury’s Office of Foreign Assets Control.
Currently these investigations are underway and it is directed towards finding out if these sanctions-hit countries were permitted to buy and sell cryptocurrencies. The Treasury Department was planning on imposing a fine against the exchange but it has not suggested a timeline for the enforcement action.
Kraken has become the latest cryptocurrency exchange to expand its Bitcoin Cash markets, introducing 
When New York’s Attorney General’s office requested information from crypto exchanges that operated within the state earlier this year, Coinbase rushed to its assistance. The California-based exchange is known for its officiousness when it comes to acceding to government requests. Despite painstakingly filling out the form in meticulous detail, the Coinbase team discovered on Tuesday, to their chagrin, that their responses had been misinterpreted.