U.S. settles with BitPay for apparent sanctions breaches


By Sarah Marsh
(Reuters) – BitPay, one of the biggest cryptocurrency payment processors, will pay $507,375 to settle its potential civil liability for apparent violations of U.S. sanctions on countries like Cuba, North Korea and Iran, the U.S. Treasury Department said.
Digital currencies, which are mostly unregulated, decentralized and anonymous, have gained popularity in recent years, especially in countries under U.S. and other sanctions, where they are seen as a way of getting around the global financial system.
Bitcoin touched a market capitalization of $1 trillion as it hit yet another record high on Friday, with world’s most popular cryptocurrency hitting an all-time high above $54,000. It has surged roughly 64% so far this month alone, fueled by signs it is gaining acceptance among mainstream investors and companies.
The U.S. …

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