{"id":88266,"date":"2023-12-14T15:42:08","date_gmt":"2023-12-14T13:42:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88266"},"modified":"2025-09-13T16:56:20","modified_gmt":"2025-09-13T13:56:20","slug":"coinlist-to-pay-1-2-million-fine-for-sanctions-violations-against-russia","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinlist-to-pay-1-2-million-fine-for-sanctions-violations-against-russia\/","title":{"rendered":"CoinList to pay $1.2 million fine for sanctions violations against Russia"},"content":{"rendered":"<p>CoinList <a href=\"https:\/\/ofac.treasury.gov\/media\/932406\/download?inline\">settled<\/a> \u043f\u0440\u0435\u0442\u0435\u043d\u0437\u0438\u0438 <span data-descr=\"U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC)\" class=\"old_tooltip\">OFAC<\/span> regarding sanctions regime violations. The platform for conducting token sales and a cryptocurrency exchange will pay a fine of $1.2 million.<\/p>\n<p>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.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The verification protocols could not determine that &#8216;Crimea&#8217; or the name of a city in Crimea, indicated in another data field, pointed to probable residence in that region,&#8221;<\/em> \u2014 the statement said.<\/p>\n<\/blockquote>\n<p>The penalty was markedly below the potential maximum of roughly $327 million, owing to CoinList&#8217;s past compliance, cooperation, and the relatively small number of offending transactions relative to their total.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/exchanges\/coinlist\"> CoinGecko<\/a>, the platform&#8217;s daily volume is $500,000. The platform offers 46 coins across 83 trading pairs.<\/p>\n<p>In October 2021, CoinList raised $100 million at<a href=\"https:\/\/forklog.com\/en\/news\/coinlist-raises-100-million-in-series-a-at-a-1-5-billion-valuation\"> a valuation of $1.5 billion<\/a>.<\/p>\n<p>On 3 November, OFAC <a href=\"https:\/\/forklog.com\/en\/news\/russian-woman-sanctioned-by-us-for-aiding-oligarchs-with-cryptocurrency\"> imposed sanctions<\/a> against Russian citizen Ekaterina Zhdanova. According to authorities, she helped members of the Russian elite circumvent international restrictions through cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CoinList settled OFAC claims regarding sanctions violations. The platform for token sales and a cryptocurrency exchange will pay a fine of $1.2 million.<\/p>\n","protected":false},"author":1,"featured_media":88267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1854,1332,36],"class_list":["post-88266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinlist","tag-ofac","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88266"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88266\/revisions"}],"predecessor-version":[{"id":88268,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88266\/revisions\/88268"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88267"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}