A Heavy Settlement Penalty of $500k Incurred on BitPay for Crypto Payment Violations

BitPay is a crypto payment system that helps users to convert their cryptocurrency into Fiat money and the other way around. It has been working quite elegantly in various regions of the world until the U.S. Treasury’s Office of Foreign Assets Control (OFAC) found the platform in violation of about…

By Hassan Mehmood · Updated Feb 21, 2021