US Company Discloses Potential Sanctions Violations

U.S.-based Hygienic Dress League Corp said it may have violated U.S. sanctions, according to a June 9 SEC filing. The company, which operates in the non-fungible-tokens sector, said it recently submitted a voluntary self-disclosure to the Office of Foreign Assets Control after it may have allowed its software to be downloaded by people or entities located in territories subject to U.S. trade embargoes. After learning of the potential violations, the company began an “internal review” and took “remedial action designed to prevent similar activity from occurring in the future,” the filing said. The disclosure is still under review by OFAC.