Crypto exchange CoinList has paid $1.2 million to settle allegations by the US Office of Foreign Assets Control (OFAC) that it allowed users from Crimea to use its platform. CoinList opened 89 accounts for clients, almost all of whom listed "Russia" as their country of residence but provided addresses in Crimea when opening the account. The fine was significantly lower than the maximum possible of nearly $327 million due to CoinList's past compliance with rules, cooperation and the small number of transactions compared to the exchange's total volume.