OFAC Fines Exchange $24M for Sanctions Violations
The agency cited failures to screen transactions involving sanctioned jurisdictions.
The Office of Foreign Assets Control on Monday announced a $24 million settlement with a mid-tier crypto exchange over what the agency described as "apparent violations" of US sanctions involving transactions tied to sanctioned jurisdictions between 2019 and 2023.\n\nThe agency credited the exchange's subsequent investment in screening technology and voluntary self-disclosure as mitigating factors that reduced the base penalty.
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