Bittrex Settles with U.S. Treasury Department’s Office of Foreign Assets Control, Will Pay Over $24 Million to Resolve Previous Charges

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) reached a settlement with Washington state-based cryptocurrency exchange Bittrex, which agreed to pay $24,280,829.20 to resolve its violations of sanctioned jurisdictions related to Cuba, Ukraine, Iran, Sudan and Syria District’s potential civil liability. According to the settlement agreement, between 2014 and the end of 2017, Bittrex allowed approximately 1,800 people in sanctioned jurisdictions, including Iran, Cuba, Sudan, Syria and Crimea, to conduct more than 116,000 transactions through its platform, worth approximately $260 million.