CFTC hits Kraken with $1.25M in fines over alleged illegal offering

CFTC hits Kraken with $1.25M in fines over alleged illegal offering

“Margined, leveraged or financed digital asset trading offered to retail U.S. customers must occur on properly registered and regulated exchanges in accordance with all applicable laws and regulations,” said Vincent McGonagle, the CFTC’s acting director of enforcement. The United States Commodity Futures Trading Commission, or CFTC, is ordering crypto exchange Kraken to pay more than a million dollars in civil monetary penalties related to allegations the exchange is violating the Commodity Exchange Act.In a Sept. 28 statement, the CFTC said U.S.-based crypto exchange Kraken — operating....


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