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FinCEN Fines Virtual Currency Platform $3.5M for BSA Violations Tied to Illicit Activity

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walter

December 15, 2025

On December 15, 2025

On December 9, FinCEN announced a consent order levying a $3.5 million civil money penalty against a peer-to-peer virtual currency trading platform for willful BSA violations. FinCEN alleged the company facilitated more than $500 million in suspicious transactions involving illicit actors and high-risk jurisdictions, including individuals from Iran, North Korea, and Venezuela….
By: Orrick, Herrington & Sutcliffe LLP