October 11, 2022

U.S. Treasury fines crypto exchange Bittrex $29 million over years-long sanctions violations


The U.S. Treasury Department fined cryptocurrency exchange Bittrex $29 million for a multi-year sanctions violation.

"Bittrex has agreed to remit $29.2 million, as part of an agreement to settle its potential liability with OFAC, for willful violations of the BSA's anti-money laundering program and SAR requirements," the statement said.

According to the allegations, Bittrex allegedly facilitated $263.4 million in authorized transactions between 2014 and 2017.

Despite blocking sanctioned persons, the company allegedly did not have a sanctioned jurisdictions screening program and did not file any suspicious activity reports with FinCEN until May 2017.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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