Penalties run at up to $100,000 or $1,000,000 per violation per day
What the document says“Any digital asset service provider that knowingly violates a prohibition under paragraph (1)(B) shall be subject to a civil monetary penalty of not more than $100,000 per violation per day.”
Subsection (b)(4). A foreign payment stablecoin issuer that knowingly continues to offer a stablecoin publicly in the United States after the determination is published faces up to $1,000,000 per violation per day, and the Secretary may seek an injunction in a district court barring it from financial transactions in the United States or with United States persons. Separate acts of noncompliance count as a single violation where they result from a common or substantially overlapping originating cause, unless the Secretary determines that they were the result of gross negligence, reckless disregard for, or a pattern of indifference to, money laundering, terrorist financing or sanctions evasion requirements. The Secretary may bring a civil action to recover a penalty or to seek an injunction against an issuer or a service provider.
What the document actually says“Any digital asset service provider that knowingly violates a prohibition under paragraph (1)(B) shall be subject to a civil monetary penalty of not more than $100,000 per violation per day.”
A digital coin firm that breaks the ban on purpose can be fined. The fine can reach a hundred thousand dollars a day.
A foreign maker that keeps selling faces a bigger fine. It can reach a million dollars a day. The Treasury can also ask a court to shut it out.
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