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OFAC and CoinList Agree to $1.2M Settlement for Violating Russian Sanctions
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury recently announced a settlement with crypto exchange CoinList concerning violations of sanctions related to Russia. CoinList, over a period of two years ending in May 2022, processed 989 transactions with a total value of $1.25 million from users residing in Crimea. OFAC considers this…
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KuCoin Resolves Charges with NYAG, Pays $22M
Cryptocurrency exchange KuCoin has reached a settlement with the New York State Attorney General’s (NYAG) office, agreeing to pay $22 million and cease operations in the state. The settlement comes in response to a lawsuit filed by NYAG Letitia James on March 9, 2023. The lawsuit alleged that KuCoin had violated state law by failing…
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CFTC Commissioner predicts Binance settlement as a significant milestone in crypto regulation
A senior U.S. regulator has suggested that the $4.3 billion settlement with Binance last month could represent a peak in enforcement actions against cryptocurrency firms. The settlement, which was for breaching U.S. anti-money laundering and sanctions laws, may provide a governance “template” for the crypto industry. CFTC Commissioner Kristin Johnson expressed her views at an…