BitPay to Pay $500K to Settle OFAC Sanction Violation Charges
BitPay is accused of facilitating over 2,100 transactions with individuals in sanctioned nations.
The bank had previously stipulated only digital assets for import funding could be used by itself and no one else.
The move is part of a sweeping set of actions taken by the U.S. government against alleged Russian election interference.
Banks in Israel and around the world are restricting business relationships with what they consider to be risky clients.
The new tool uses an oracle on Chainlink to spot crypto wallet addresses on government watchlists.
Crypto income could benefit the economy and help bring foreign funds into the country, the think tank says.