bitcoin

The Treasury Department has slapped a $507,375 fine against a bitcoin payments processor for sanctions compliance failures that allowed transactions with parties in Cuba, North Korea, Iran, and elsewhere — only the second such enforcement action ever taken over digital currency transactions, but probably not the last.  The firm in question is BitPay, headquartered in…

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UBAF

We have our first enforcement action of 2021 to review: an $8.5 million fine that the Office of Foreign Assets Control slapped against a French bank for sanctions violations related to Syria, with a detailed list of compliance reforms the bank implemented to avoid harsher penalties.  OFAC announced the enforcement action on Monday against Union…

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