Tagged: BitPay OFAC Sanctions

BitPay Agrees to Pay $507,375 to Settle OFAC Sanctions Violations

BitPay Agrees to Pay $507,375 to Settle OFAC Sanctions Violations

The Treasury Department’s Office of Foreign Asset Control continues to focus enforcement activities on digital currency companies.  This focus is likely to increase given recent comments by Janet Yellen, the head of the Treasury department, criticizing digital currencies and the utility of this rapidly growing new technology.  Last year, OFAC announced an enforcement action against BitGo, a digital wallet asset management service. In OFAC’s latest...