1. Enforcement Roundup: FCPA, Crypto, and Anti-Boycott Actions
Crypto Asset Company Settles Sanctions Violations for $7.5 million
On May 1, the U.S. Department of Foreign Assets Control (OFAC) announced a $7.5 million settlement with crypto asset company Poloniex LLC for 65,942 apparent violations of the Crimea, Cuba, Iran, Sudan, and Syria sanctions programs. Between the company’s inception in January 2014 and November 2019, Poloniex allowed customers located in sanctioned jurisdictions to use its platform to trade, deposit, and withdraw funds. The value of the combined transactions totaled $15,335,349. While Poloniex developed a sanctions compliance program in 2015 that […]
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