Lithuania cryptocurrency firm fined €9.3m for sanctions evasion

July 18, 2024

"Authorities say the company had evaded sanctions against Russia with the activities. [The company] also breached money laundering rules. Lithuania’s financial crimes watchdog, the Financial Crimes Investigation Service (FNTT), penalized the regulated crypto company for facilitating the transfer of funds to and from Russian banks...Russia-based individuals and legal entities also received account management services, crypto wallet use and custody from [the company]."

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