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American token sale platform CoinList has agreed to pay $1.2 million to settle charges from the U.S. Department of Justice’s enforcement branch. According to a statement published by the Treasury Department’s Office of Foreign Assets Control (OFAC) on Dec. 13, 2023, the San Francisco-headquartered firm has agreed to pay $1,207,830 to settle “potential civil liability” arising from processing nearly 1,000 transactions on behalf of entities located in sanctioned Crimea between April 2020 and May 2022. The regulator says CoinList‘s screening procedures “failed to capture users who represented themselves as resident of a non-embargoed country but who nevertheless provided an address within Crimea.” For instance, CoinList allowed registering 89 users, who had specified Russia as their country of residence, providing addresses in Crimea upon account opening as well. You might also like: CommEX, platform that acquires Binance Russia, will offe...

The Institute of Electrical and Electronics Engineers is adopting Avalanche blockchain to issue secure, tamper-proof certificates in India, enhancing digital credentialing. This initiative, as reported by CoinTelegraph, partnering with Zupple Labs to use Avalanche blockchain , represents a pivotal step in digital credentialing, aiming to offer tamper-proof, instantly verifiable certificates. “Utilizing Avalanche’s C-Chain, primarily for its compatibility with the Ethereum Virtual Machine, the IEEE demonstrates a forward-thinking approach in adapting blockchain technology. The choice of Avalanche (AVAX), endorsed by entities like SK Planet and JP Morgan Onyx, hinges on its capacity for ensuring the immutability, longevity, and security of the certificates.” Head of Avalache’s India arm Devika Mittal You might also like: Avalanche MOM volume up 167% as L1 networks record growth This decision, as explained by Mittal, also simplifies the deployment of appl...

Tanzania gets a local crypto exchange to provide fiat off-ramp for crypto donations. While social giving is seen as a key element in supporting the international development agenda, managing donations requires end-to-end clarity on the movement of funds. In its current state, donation management lacks reliable traceability features, making it difficult for donors to understand how their contributions are being used. The lack of transparency, coupled with the inefficient bureaucratic processes of cross-border fund transfers, creates a barrier that discourages potential donors from reaching out to regions in need. Blockchain offers a dependable solution to the struggles encored by the social giving landscape. Because every transaction made on a blockchain is publicly traceable, donors can easily track where their donations end up. However, even with a reliable blockchain that provides transparency along the social giving process, there’s still a missing link in ensuring the recipient ge...