CoinList settled претензии OFAC regarding sanctions regime violations. The platform for conducting token sales and a cryptocurrency exchange will pay a fine of $1.2 million.
According to the press release, CoinList processed 989 transactions for 89 users who indicated in the address field Russia, but were effectively residing in Crimea.
“The verification protocols could not determine that ‘Crimea’ or the name of a city in Crimea, indicated in another data field, pointed to probable residence in that region,” — the statement said.
The penalty was markedly below the potential maximum of roughly $327 million, owing to CoinList’s past compliance, cooperation, and the relatively small number of offending transactions relative to their total.
According to CoinGecko, the platform’s daily volume is $500,000. The platform offers 46 coins across 83 trading pairs.
In October 2021, CoinList raised $100 million at a valuation of $1.5 billion.
On 3 November, OFAC imposed sanctions against Russian citizen Ekaterina Zhdanova. According to authorities, she helped members of the Russian elite circumvent international restrictions through cryptocurrency.