Coinlist pays US$1.2m to OFAC over Ukraine-Russia sanctions violations

Coinlist Markets LLC, a California, US-based cryptocurrency exchange, has settled with the US Office of Foreign Assets Control (OFAC) to pay US$1,207,830 over potential civil liability for processing transactions for account-holders in Crimea between April 2020 and May 2022, which would have breached Russia/Ukraine sanctions.

Coinlist Markets LLC (CLM), a California, US-based cryptocurrency exchange, has settled with the US Office of Foreign Assets Control (OFAC) to pay US$1,207,830 over potential civil liability for processing transactions for account-holders in Crimea between April 2020 and May 2022, which would have breached Russia/Ukraine sanctions.