OFAC v. CoinList Markets

Description

CoinList settles with OFAC, agreeing to pay $1.2 million for processing 989 transactions on behalf of users residing in Crimea between April 2020 and May 2022, violating OFAC's Russia/Ukraine sanctions.

Legal Significance

Entities cannot engage with customers in sanctioned territories.

Issues

AML / KYC / Sanctions

Status

Settled

Case No.

Date Filed

December 13, 2023

Plaintiff

Department of Treasury

Defendant

CoinList Markets LLC

Court

Department of Treasury

Plaintiff Counsel

Defendant Counsel

Major Filings

Settlement

December 13, 2023

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