Crypto exchange Kraken settles U.S. investigation over alleged Iran sanctions violations

FILE PHOTO: Kraken cryptocurrency exchange logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Crypto exchange Kraken has agreed to pay a fine to settle civil liability related to apparent violations of sanctions on Iran, the U.S. Treasury Department's Office of Foreign Assets Control said on Monday.

As part of the settlement with OFAC, Kraken will pay about $362,000, and "invest an additional $100,000 in certain sanctions compliance controls."