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

• Kraken fined for offering illegal trading services.
• As a result, the U.S. ordered Kraken to pay $1.25m.
• Since June 2021, Kraken has limited its margin on crypto assets.

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

The CFTC asserted that the Kraken did not register to legally trade. Citing from the report, Kraken did not work in line with the Commodities Exchange Act for offering margin crypto products from June 2020. The exchange provided margin ratios of up to 5:1.

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

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