AMLi NEWS UPDATE: American crypto payments company BitPay pays $500,000 after violating US sanctions; ‘they knew what they were doing,’ says OFAC - AML Intelligence
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AMLi NEWS UPDATE: American crypto payments company BitPay pays $500,000 after violating US sanctions; ‘they knew what they were doing,’ says OFAC

BitPay allowed persons who appear to have been located in the Crimea region of Ukraine, Cuba, North Korea, Iran, Sudan, and Syria to transact with merchants in the United States.

By Vish Gain for AMLi

AMERICAN CRYPTO COMPANY BitPay has agreed to pay the US Government $507,375 to settle a civil liability case involving over 2100 violations of US sanctions programs.

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