The cryptocurrency exchange Bittrex was fined $24 million for breaking U.S. sanctions, the Treasury Department announced on Tuesday, the largest penalty the government has imposed on a crypto business for violating sanctions.
Between 2014 and 2017, Bittrex allowed customers in Cuba, Iran, Sudan, Syria and the Crimea region of Ukraine to make virtual currency transactions worth more than $263 million, according to the Treasury Department. The company, which is based in Bellevue, Wash., was fined an additional $5 million for breaking rules designed to prevent money laundering and other financial crimes, the government said.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn