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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 September 21, 2021, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued an "Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments" (the "Updated Advisory").
On September 21, 2021, the U.S. Department of the Treasury announced two major actions by the Office of Foreign Asset Control (OFAC) to combat ransomware: the release of OFAC's Updated...