DIRS.INFO The most relevant business & tech news

☆ Crypto exchange Bittrex to pay $29-mln penalty to U.S. Treasury Department
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - The U.S. Treasury Department said on Tuesday that cryptocurrency exchange Bittrex Inc had agreed to pay $29 mln in fines for "apparent violations" of sanctions on certain countries and anti-money laundering law. The Treasury Department's Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) had levied fines of about $24 million and $29 million, respectively, on Bittrex. Register now for FREE unlimited access to Reuters.com RegisterEffectively, Bittrex will have to pay a penalty of about $29 million. FinCEN said its investigation found that from February 2014 through December 2018, Bittrex did not maintain an effective anti-money laundering program. Bittrex in an emailed statement to Reuters said it was "pleased to have fully resolved" the matter with OFAC and FinCEN on mutually agreeable terms.

☆ Crypto exchange Bittrex fined $53 mln by U.S. Treasury Dept
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - The U.S. Treasury Department said on Tuesday that cryptocurrency exchange Bittrex Inc was fined about $53 million to settle "apparent violations" of U.S. sanctions on certain countries and anti-money laundering laws. The OFAC alleged that Bittrex failed to prevent people located in the sanctioned jurisdictions of Ukraine's Crimea region, Cuba, Iran, Sudan, and Syria from using its platform between March 2014 and December 2017. Register now for FREE unlimited access to Reuters.com RegisterThe FinCEN said its investigation found that from February 2014 through December 2018, Bittrex failed to maintain an effective anti-money laundering program. Bittrex in an emailed statement to Reuters said it was pleased to have fully resolved the matter with OFAC and FinCEN on "mutually agreeable terms". Register now for FREE unlimited access to Reuters.com RegisterReporting by Manya Saini in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "saddling"

2 mentions found