The Office of Foreign Assets Control (OFAC) has granted U.S. cryptocurrency exchange Bittrex a license to allow customers in sanctioned jurisdictions to withdraw their funds.
Bittrex began blocking customers in heavily sanctioned jurisdictions from accessing their accounts in late 2017, after what John Roth, the company’s head of compliance, reportedly said was an “unintentional gap” in the company’s procedures allowed some users in Iran to trade on the platform.
Ziya Sadr, an Iranian whose account was frozen during the purge, published a letter from the exchange on Twitter on November 8.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial