BitPay to Pay $500K to Settle OFAC Sanction Violation Charges

Crypto payments platform BitPay has settled with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on charges of over 2,000 apparent sanctions violations. BitPay will pay $507,375 on allegations it allowed individuals in sanctioned locations like Ukraine’s Crimea region, Cuba, North Korea, Sudan, Iran and Syria to transact wit...

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