CFTC hits Kraken with $1.25M in fines over alleged illegal offering - 0 views
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John Kiff on 29 Sep 21The US Commodity Futures Trading Commission (CFTC) ordered Kraken to pay $1.25 million dollars in civil monetary penalties for allegedly violating the Commodity Exchange Act. More specifically, Kraken is accused of failing to register as a futures commission merchant and llegally offering margined retail commodity transactions in digital assets. The CFTC's case alleges that Kraken "offered margined retail commodity transactions in digital assets" to ineligible U.S. customers from June 2020 to July 2021. Kraken has since changed its policy on margin trading, but until June 2021 customers needed to close or settle their positions within 28 days. https://www.cftc.gov/PressRoom/PressReleases/8433-21