CoinList, a cryptocurrency exchange and token listing platform, has agreed to pay over $1.2 million in a settlement with the Office of Foreign Assets Control (OFAC) for alleged violations of sanctions related to Russia and Ukraine. OFAC claimed that CoinList processed transactions for users with Crimea addresses, which is subject to sanctions due to Russia’s annexation of the region. CoinList reportedly processed 989 financial transactions for users in Crimea between April 2020 and May 2022. The settlement amount reflects a deemed base penalty amount, and OFAC noted that CoinList’s violations were considered “non-egregious.” CoinList cooperated with the investigation and has since enhanced its compliance measures. (Source: