Bittrex To Pay $53 Million Fine to US Treasury To Settle Allegations
Crypto exchange Bittrex pays $53 million in fines to the US Treasury department. The $53 million is to settle the charges against the exchange for its alleged violation of federal sanctions. The settlement of the allegations was announced by the US Treasury department, the federal government’s sanctions officer, Treasury’s money laundering watchdog, and the Financial Crimes Enforcement Network (FinCEN) on Tuesday. However, OFAC also stated that Bittrex has taken measures to rectify the allegations and issues. J US T IN: 🇺🇸 US Treasury fines # crypto exchange Bittrex $53 million for violating federal sanctions . — Watcher.Guru (@WatcherGuru) October 11, 2022 Bittrex allegedly allowed 1800 people in sanctioned areas As per the details from the settlement, Bittrex allegedly allowed 1800 people from sanctioned jurisdictions on the platform. The people hailed from Iran, Cuba, Sudan, Syria, and Crimea. Bittrex allowed these people to condu...