According to an official statement by the regulatory authority, the cryptocurrency exchange CoinList allowed clients from Crimea to use its services. Representatives of CoinList informed OFAC that they opened 89 accounts for clients, most of whom indicated Russia as their country of residence, but all of them provided mailing addresses on the Crimean peninsula when opening the account.

The exchange provided financial services to these clients from April 2020 to May 2022 and in doing so, committed 989 clear violations of sanctions. As a result, CoinList will be forced to pay a fine.

OFAC emphasized the importance of compliance with sanctions by companies dealing in virtual currencies, especially when they are oriented towards a global customer base. This case serves as a reminder of the need for careful adherence to sanction measures when working with cryptocurrencies.

Not long ago, the Kazakhstan-based cryptocurrency exchange ATAIX Eurasia, which holds a license, asked Russian users to close their accounts by December 15 of this year. The company announced that it could not provide services to Russians due to European Union sanctions. These sanctions affect Russian citizens, all individuals residing in the country, as well as legal entities registered in Russia.

At the end of September, the cryptocurrency exchange Binance decided to completely leave the Russian market, selling its local business to the firm CommEX.