U.S. Treasury Fines Crypto Exchange Bittrex $29M

The U.S. Treasury Department's Office of Foreign Asset Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) announced settlements with crypto exchange Bittrex. Bittrex agreed to pay around $29m for its violations of the BSA's AML program and SAR requirements. Between 2014 and late 2017, Bittrex allowed around 1,800 people in sanctioned jurisdictions – including Iran, Cuba, Sudan, Syria and Crimea – to conduct more than 116,000 transactions worth roughly $260m through its platform, according to the settlement.