OFAC agrees $500k settlement with digital currency processing company

OFAC has announced that BitPay, a digital currency payments processing company based in Atlanta, Georgia, has agreed to pay $507,375 to settle its civil liability for 2,102 violations of multiple US sanctions regimes. Between June 2013 and September 2018, customers in sanctioned jurisdictions, namely the Crimea region of Ukraine, Cuba, North Korea, Iran, Sudan, and Syria were able to make …

IranIran North KoreaNorth Korea SudanSudan SyriaSyria United StatesUnited States

About Maya Lester QC

Maya Lester QC

Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...

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