By Maya Lester KC & Michael O’Kane

US enforcement against virtual currency exchange

OFAC and FinCEN yesterday announced settlement agreements for over $ 24m and $ 29m, with Bittrex, Inc., a virtual currency exchange, for multiple sanctions programmes and violations of AML and suspicious activity report (SAR) reporting obligations. FinCEN found that from 2014 to 2018 Bittrex failed to maintain an effective AML programme or file any SARs. Bittrex has agreed to pay …

About Maya Lester KC

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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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