On December 13, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) reached a settlement with crypto exchange CoinList for an “apparent violation” of sanctions related to Russia and Ukraine. Over a two-year period until May 2022, CoinList processed 989 transactions totaling $1.25 million from users claiming residence in Crimea, a disputed region annexed by Russia in 2014. While CoinList had compliance procedures, its screening did not detect users who identified as non-embargoed but provided a Crimea address. OFAC listed mitigating factors, including CoinList’s cooperation, lack of prior notices, and remedial actions. The settlement of $1.2 million is less than the violating transactions’ amount, and $300,000 will be suspended pending compliance commitments, invested in sanctions controls. The settlement is a fraction of the $327 million maximum penalty, reflecting non-egregious actions and lack of voluntary disclosure. CoinList, a minor exchange, had a 24-hour volume of $350,000.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}