On 1 May, OFAC announced an agreement with Poloniex, a Delaware company previously doing business as Poloniex Inc, in which the company agreed to remit $7,591,630 to settle its potential civil liability for apparent violations of sanctions against Crimea, Cuba, Iran, Sudan, and Syria.  Between January 2014 and November 2019, the Poloniex trading platform allowed customers apparently located in sanctioned jurisdictions to engage in online digital asset-related transactions — consisting of trades, deposits, and withdrawals.



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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