Crypto exchange Kraken will pay $362,000 to settle allegations it violated Iran sanctions

Cryptocurrency exchange Kraken has agreed to pay more than $362,000 to settle allegations it violated U.S. sanctions against Iran, the U.S. Treasury Department said Monday. 

Kraken violated U.S. sanctions laws by failing to prevent users in Iran from accessing its platform, which allowed them to conduct transactions worth more than $1.68 million between October 2015 and June 2019, the Treasury Department’s Office of Foreign Assets Control said.