U.S. Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the U.S. Treasury Department in Washington, U.S. July 28, 2022.
Jonathan Ernst | Reuters
The Treasury Department fined a Washington-based cryptocurrency trading platform $29.3 million for violating multiple sanctions, including those prohibiting U.S. companies from doing business with individuals operating in Iran, Sudan, Syria, Cuba and the Crimea region of Ukraine, the agency announced Tuesday.
Bittrex, an online currency exchange and cryptocurrency wallet service company based in Bellevue, Washington, agreed to pay $24.3 million to the Treasury’s Office of Foreign Assets Control to settle civil charges that it conducted 116,421 transactions valued at more than $260 million that violated U.S. sanctions. The Treasury’s Financial Crimes Enforcement Network division, or FinCen, imposed a total civil penalty of $29.3 million, which covers additional violations under the Bank Secrecy Act.
FinCen said it...
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