ShapeShift digital asset exchange pays US$750,000 over US sanctions violations

A defunct virtual asset exchange, incorporated in Switzerland, headquarters in Denver, Colorado, has settled with the US Office of Foreign Assets Control (OFAC) for apparent violations of sanctions programs covering Cuba, Iran, Sudan and Syria. ShapeShift AG, now with "limited assets", will pay US$750,000 for 17,183 transactions with users from those jurisdictions, totalling US$12,570,956, which occurred between 19 December 2016 and 9 October 2018.

A defunct virtual asset exchange, incorporated in Switzerland, headquarters in Denver, Colorado, has settled with the US Office of Foreign Assets Control (OFAC) for apparent violations of sanctions programs covering Cuba, Iran, Sudan and Syria. ShapeShift AG, now with "limited assets", will pay US$750,000 for 17,183 transactions with users from those jurisdictions, totalling US$12,570,956, which occurred between 19 December 2016 and 9 October 2018.