Alessio Evangelista, Eytan J. Fisch, Khalil N. Maalouf, Javier A. Urbina and Michael A. Darling

Skadden Discusses First OFAC and FinCEN Parallel Enforcement Actions on Virtual Currency

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On October 11, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) announced settlements for approximately $24 million and $29 million, respectively, with virtual currency exchange Bittrex, Inc. (Bittrex). …