OFAC SETTLEMENT WITH BigGo DIGITAL ASSETS COMPANY OVER SANCTIONS VIOLATIONS

On 30 December, OFAC announced that it had reached a settlement with the technology company based in Palo Alto, California, that implements security and scalability platforms for digital assets and offers non-custodial secure digital wallet management services over apparent violations involving persons in Crimea, Cuba, Iran, Sudan, or Syria.  BitGo has agreed to remit $98,830 to settle its potential civil liability.

https://content.govdelivery.com/accounts/USTREAS/bulletins/2b37bbc

https://home.treasury.gov/system/files/126/20201230_bitgo.pdf

If if you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing with my relocation, removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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