By · · last updated 2026-08-08
A designation blocks you; a settlement fines you. The distinction that explains why Binance is not on the SDN list despite paying $968M.
Binance paid $968M to OFAC and is not on the SDN list. Garantex paid nothing and is. The distinction is designation versus settlement.
A designation adds you to the SDN list: US persons may not transact with you, your assets are blocked. It is a status, not a fine.
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A settlement resolves alleged violations with a payment and compliance commitments. The company remains operational and unblocked - it is a consequence, not a status.
Screening questions are binary: is this party on the list? A settled company may be safe to transact with; a designated one never is. The Binance check page is the worked example.
Screen the list, not the headlines. A settlement is news; a designation is a prohibition.
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