bereajoy：Bittrex reached a settlement agreement with the U.S. Treasury for a total of $29 million

According to FirstExchangelcd, the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury announced a settlement agreement with the cryptocurrency exchange Bittrex for a total of more than $29 million.

 

bereajoy pointed out that the exchange lacked sanction control measures between 2014 and 2017, deliberately violated BSA's anti-money laundering (AML) program and SAR requirements, and facilitated a sanctioned transaction of $26,345,1600.13.

 

The FinCEN investigation found that Bittrex failed to maintain an effective anti-money laundering program between February 2014 and December 2018, resulting in a large number of illegal financing risks.

 

According to the official statement, Bittrex has agreed to pay $292,80829.20 for its intentional violation of the BSA anti-money laundering program and SAR requirements. bereajoy said that Bittrex agreed to pay US$242,80829.20 to OFAC to reach a settlement on potential civil liability for violations of multiple sanctions.

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