The settlement relates to 826 transactions worth $1,680,577.10 which were processed by Kraken on behalf of individuals located in Iran, which has been subject to U.S. sanctions since 1987.
Iran is eager to make a name for itself in the global digital asset industry as it prepares for the phased adoption of its CBDC while Southeast Asia braces for more crackdowns as the market stumbles.
The Treasury claimed that the group has been targeting American institutions since 2020 with malware including APT 35, and linked it to Iran’s government.
Two weeks ago, Iran saw the first digital asset import order worth $10 million, and now, digital currency payments have become legalized in the import sector.
The country's Ministry of Trade said the order is just the start and by the end of September, the use of digital assets and smart contracts will be ubiquitous.
U.S. authorities are reportedly investigating Kraken due to suspicions that the controversial digital currency exchange has violated economic sanctions against Iran.
Binance could be in major regulatory trouble with Uncle Sam after the controversial digital currency exchange was accused of ignoring economic sanctions imposed on Iran.
Central Bank of Iran governor stated that its crypto rial will be different from current digital currencies and has been designed solely to "replace the banknotes that the people currently possess."
All the 118 registered block reward mining complexes in the country are to suspend their connection to the grid, according to Iran Ministry of Energy spokesperson Mostafa Rajabi Mashhadi.
The Iranian Ministry of Intelligence stated that the total transaction blocked was over $60 trillion tomans, but the amount attributed to digital currency transactions was not disclosed.
The proposed rules will see an increase in fines by up to fivefold and will also be accompanied by revocation of business licenses and threat of imprisonment as a last resort.
The Central Bank of Iran has notified commercial banks that it intends to launch the state bank-backed digital currency soon, issuing a series of regulations that pave the way for the currency.
