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KRAKEN ROBOTICS INC.

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Kraken Robotics : Digital asset exchange Kraken to pay $1.25 mln penalty to settle U.S. CFTC charges

09/28/2021 | 05:33pm EDT

WASHINGTON, Sept 28 (Reuters) - Kraken, one of the largest digital asset exchanges in the United States, will pay a $1.25 million civil fine to settle U.S. charges it illegally offered certain transactions in digital assets, including Bitcoin.

From June 2020 to July 2021, Payward Ventures Inc, doing business as Kraken, offered margined retail commodity transactions in digital assets to U.S. customers who were not eligible, the U.S. Commodity Futures Trading Commission (CFTC) said in a statement. The firm also acted as a futures commission merchant without registering as one with the agency.

Kraken, which did not admit or deny the CFTC's findings, cooperated with the investigation and was "proactive" in seeking compliance guidance, the CFTC said. The firm agreed to cease and desist from further violations.

"We are committed to working with regulators to try to ensure the rules governing digital assets create a level playing field globally," a Kraken spokesperson said in a statement.

In a concurring statement about the settlement, CFTC Commissioner Dawn Stump said existing agency guidance does not go far enough to establish clear rules for cryptocurrency firms seeking to offer retail commodity transactions involving certain digital assets. (Reporting by Chris Prentice; editing by Jonathan Oatis and Dan Grebler)


© Reuters 2021
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Financials
Sales 2021 28,5 M 23,0 M 23,0 M
Net income 2021 0,47 M 0,38 M 0,38 M
Net cash 2021 9,90 M 8,01 M 8,01 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 79,5 M 64,3 M 64,3 M
EV / Sales 2021 2,45x
Capi. / Sales 2022 1,99x
Nbr of Employees 161
Free-Float 75,6%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 0,40 CAD
Average target price 0,95 CAD
Spread / Average Target 141%
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Managers and Directors
Karl Kenny President, CEO & Non-Independent Director
D. Joseph MacKay Chief Financial Officer
David Shea Senior Vice President-Engineering
Jeremy Dillon Chief Scientist
Reid Gregory Michael Chief Operating Officer & Secretary
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