Crypto exchange Poloniex will pay just under $7.6 million as part of a settlement with the U.S. sanctions watchdog after it alleged nearly 60,000 violations. nikhileshde reports
Poloniex LLC, a U.S. entity previously affiliated with the Poloniex crypto exchange, will remit $7.59 million to settle sanctions violations allegations with the U.S. Treasury Department's Office of Foreign Asset Control , the sanctions watchdog said Monday.
The platform had nearly 66,000 violations of various sanctions programs, allowing customers from Crimea, Cuba, Iran, Sudan and Syria to trade up to a collective $15 million between January 2014 and November 2019,While Poloniex launched in January 2014, it did not have a sanctions compliance program in place until May 2015.
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