U.S. OFAC announces settlement agreement with digital asset exchange for violations of multiple sanctions programs
Engaged in digital asset transactions with users located in Cuba, Iran, Sudan, and Syria
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced that a digital asset exchange incorporated in Switzerland and operating from Denver, Colorado, has agreed to pay $750,000 to settle its potential civil liability for apparent violations of multiple sanctions programs. Specifically, the digital asset exchange engaged in digital asset transactions on its exchange platform with users located in Cuba, Iran, Sudan, and Syria on 17,183 occasions.
The settlement amount reflects OFAC's determination that the conduct was non-egregious and not voluntarily self-disclosed.
Read the OFAC enforcement release (September 22, 2025)