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Bittrex agreed to pay more than $29 million in a settlement with FinCEN, but the regulator said it will credit a $24-million payment “to settle its potential liability with OFAC.”
The United States Department of the Treasury’s Office of Foreign Assets Control and Financial Crimes Enforcement Network took enforcement actions against crypto exchange Bittex for allegedly violating sanctions programs as well as reporting requirements under the Bank Secrecy Act, or BSA.
In an Oct. 11 announcement, the U.S. Treasury said Bittrex had agreed to a more than $24-million settlement with OFAC for violations of “multiple sanctions programs” by failing to prevent individuals based in the Crimea region, Cuba, Iran, Sudan, and Syria fro
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