Digital Payment Service Provider Settles with OFAC for Apparent U.S. Sanctions Violations Associated with Digital Currency Transactions | Baker Botts

The BitPay settlement shows that OFAC expects that companies providing digital currency services understand the sanctions risks associated with their activities and take steps necessary to mitigate those risks.  In other words, the OFAC compliance obligations for digital payment service providers, such as BitPay, are no different than those of any other financial service provider.

Source: Digital Payment Service Provider Settles with OFAC for Apparent U.S. Sanctions Violations Associated with Digital Currency Transactions | Thought Leadership | Baker Botts