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Digital Asset Platform CoinList Reaches Settlement with OFAC Regarding Alleged Sanctions Violations
CoinList, a crypto-asset platform based in the US, has reportedly agreed to a settlement of $1.2 million with the US Treasury’s Office of Foreign Assets Control (OFAC) after allegations of carrying out transactions that may have violated sanctions. As mentioned in a notice that was issued by OFAC on December 13, 2023, CoinList had allegedly processed 989 transfers for clients residing in Crimea, the area that was formerly a part of Ukraine, however, it is presently being occupied by Russia, between the dates of April 2020 and May 2022. OFAC has reportedly said that the violations are “non-egregious” however the ... (full story)