US Treasury Charges Bittrex With Sanctions Violations, Crypto Exchange Agrees to Settle With Regulator
On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure to “implement effective sanctions compliance controls” between March 2014 and December 2017. Crypto Exchange Bittrex Charged With US Sanctions Violations, Washington State Trading Platform Agrees to Settle The Washington State-based crypto asset exchange Bittrex has been charged by FinCEN and OFAC over “116,421 apparent violations of multiple sanctions programs.” According to the regulators from the U.S. Treasury department, the violations stemmed from transactions that were from “persons apparently located in the Crimea region of Ukraine, Cuba, Iran, Sudan, and Syria.” U.S. officials say that the transactions added up to $263.45 million worth of crypto...