Express
BitPay Will Pay $507,375 Settlement Over Sanctions Violations
Summary: According to a press released today, the crypto payment platform BitPay has reached a $507,375 settlement with the Office of Foreign Assets Control (OFAC). OFAC previously accused BitPay of conniving users located in sanctioned areas like Ukraine, Cuba, North Korea, Sudan, Iran, etc conducted transactions with the American people. More than 2,000 transactions have been ...
According to a press released today, the crypto payment platform BitPay has reached a $507,375 settlement with the Office of Foreign Assets Control (OFAC).
OFAC previously accused BitPay of conniving users located in sanctioned areas like Ukraine, Cuba, North Korea, Sudan, Iran, etc conducted transactions with the American people. More than 2,000 transactions have been made with a total value of $129,000.
"BitPay has steadily enhanced its already rigorous compliance program to both fulfill its regulatory obligations and to be an example of doing business right in the evolving blockchain payments space," said BitPay.
BY Mary Liu
Tags: Bitpay,Cryptocurrency,OFAC
Link: BitPay Will Pay $507,375 Settlement Over Sanctions Violations [Copy]
