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BitGo to Pay $93K to US Treasury to Settle 183 'Apparent' Sanctions Violations


www.coindesk.com 31 December 2020 21:00, UTC
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Bitcoin custodian firm BitGo agreed to pay $93,830 in a settlement pact with the U.S. Treasury over 183 “apparent violations” of multiple sanctions programs.

  • Because of deficiencies related to the company's compliance procedures, BitGo failed to prevent persons in the Crimea region of Ukraine, Cuba, Iran, Sudan and Syria from using its non-custodial wallet service, the Treasury said in announcing the settlement.
  • The maximum civil monetary penalty was $53,051,675, the department said.

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