Page 2 - Potential Sanctions Risks News Today

The innovative use of virtual currencies is hotter than ever, but so is a dark side of these instruments: their exploitation in ransomware schemes. This year, since January 2021,...

Office of Foreign Assets Control OFAC of the US Treasury published sanctions compliance guidance for the virtual currency industry: sanctions requirements and procedures, including licensing and enforcement processes, and highlights sanctions compliance best practices

The DOJ’s National Cryptocurrency Enforcement Team and Treasury’s OFAC are setting their sights on cryptocurrency use in cybercrimes. The US Department of Justice (DOJ)...

Guidance Demonstrates OFAC’s Expectations for Sanctions Compliance by Cryptocurrency Industry - On October 15, 2021, the Office of Foreign Assets Control (“OFAC”) of the...

In the past month, the Office of Foreign Assets Control (OFAC) of the US Department of Treasury (Treasury) has issued two advisories that highlight the heightened US sanctions risk associated...

Virtual currency exchanges are critical nodes in the cryptocurrency ecosystem, and recent Treasury actions focus on such exchanges as a way to combat ransomware attacks.

On October 15, 2021, the Financial Crimes Enforcement Network (“FinCEN”) issued a financial trend analysis on ransomware relating to Suspicious Activity Reports (“SARs”) filed in the...

In its press release announcing the sanctions, OFAC indicated that more than 40% of SUEX's transactions involved illicit actors.

In recent years, the U.S. government has become increasingly focused on regulating the use of virtual currencies as a means of addressing a host of financial crimes and malign activities.

In this month’s edition of our Privacy & Cybersecurity Update, we examine the California Privacy Protection Agency's public comment period for the California Privacy Rights Act, the...