Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and ShapeShift AG

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced that ShapeShift AG, a digital asset exchange incorporated in Switzerland and operating from Denver, Colorado, has agreed to pay $750,000 to settle its potential civil liability for apparent violations of multiple sanctions programs. Specifically, ShapeShift engaged in digital asset transactions on its exchange platform with users located in Cuba, Iran, Sudan, and Syria on 17,183 occasions. The settlement amount reflects OFAC's determination that ShapeShift AG's conduct was non-egregious and not voluntarily self-disclosed. 

For more information, please visit the following Enforcement Notice.