News & Analysis as of

U.S. Treasury Sanctions Settlement Agreements

A&O Shearman

U.S. sanctions enforcement in the virtual currency space - USD 1 billion and counting...

A&O Shearman on

Beginning in 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has increasingly focused its enforcement activity on entities operating in the virtual currency space, illustrating a trend that...more

Vinson & Elkins LLP

OFAC Announces a Civil Settlement Agreement For Multiple Sanctions Violations Related To Digital Currency Transactions

Vinson & Elkins LLP on

On February 18, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a half-million dollar settlement with BitPay, Inc. (“BitPay”), a U.S. company that processes digital currency...more

Hudson Cook, LLP

Deficiencies in Sanctions Screening Process Lead to Settlement

Hudson Cook, LLP on

On July 8, the U.S. Department of the Treasury announced a settlement with Amazon.com, Inc., related to the company's potential civil liability for apparent violations of multiple sanctions programs resulting from...more

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