BitPay will have to pay the U.S. Treasury's Office of Foreign Asset Control over half a million dollars for crypto services to sanctioned regions.
In a Feb. 18 announcement of the settlement, OFAC said that BitPay had facilitated "approximately $129,000 worth of digital currency-related transactions with BitPay’s merchant customers" by users from Crimea, Cuba, North Korea, Iran, Sudan and Syria — effectively the full range of geographical sanctions that OFAC has in place.