OFAC Sanctions 7 New Bitcoin Addresses Allegedly Associated With Iran-Related...
The Treasury’s Office of Foreign Asset Control (OFAC) has published a specially designated nationals list update (OFAC’s SDN List) that lists a number of individuals accused of being involved with Iran-related ransomware. The list further shows seven bitcoin addresses that are allegedly associated with the Iranian ransomware gang. Iran Adds 7 New Bitcoin Addresses to the SDN List Following the Tornado Cash Ban Following the Treasury’s Office watchdog OFAC banning the ethereum mixer Tornado Cash, OFAC published a new SDN List update on September 14, 2022. The SDN List....
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More than 1,500 users with residences in Iran reportedly had accounts at Kraken as of June, while 149 users in Syria and 83 in Cuba were also able to access the crypto exchange. The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, is reportedly investigating crypto exchange Kraken for allegedly allowing users based in Iran and other countries to buy and sell crypto — a potential violation of U.S. sanctions.According to a Tuesday report from the New York Times, OFAC has been looking into Kraken’s alleged sanctions violations since 2019 and may be close to....
The settlement repeats the Treasury's message that crypto companies will need to know their customers. The U.S. Treasury has settled with BitGo over charges that it facilitated users in sanctioned areas to transact using its crypto wallet services between 2015 and 2019.BitGo, an institutional crypto custodian service and wallet operator, did not do due diligence in blocking wallet users based in Crimea, Cuba, Iran, Sudan and Syria, said the Treasury's Office of Foreign Asset Controls in a Dec. 30 announcement. OFAC said of BitGo:"BitGo failed to exercise due caution or care for its....
BitPay apparently screened merchants but not customers. BitPay will have to pay the U.S. Treasury's Office of Foreign Asset Control over half a million dollars for crypto services to sanctioned regions. In a Feb. 18 announcement of the settlement, OFAC said that BitPay had facilitated "approximately $129,000 worth of digital currency-related transactions with BitPay’s merchant customers" by users from Crimea, Cuba, North Korea, Iran, Sudan and Syria — effectively the full range of geographical sanctions that OFAC has in place. OFAC repeated that crypto firms need to align themselves with....
The government department hinted that the addresses were added to the list in an effort to stop North Korea from evading sanctions imposed by the United States and United Nations. The United States Treasury Department has added three Ethereum wallet addresses to sanctions allegedly linked to the hacker group responsible for the theft of more than $600 million in crypto from nonfungible token game Axie Infinity’s Ronin sidechain.In a Friday update, the Treasury Department’s Office of Foreign Assets Control, or OFAC, listed three Ethereum addresses to its Specially Designated Nationals....
Economic sanctions against Iran have been lifted, but some sanctions still apply. A pair of attorneys at the global Pillsbury law firm claim that screening rules still exist when trading with Iran, which means complications for anyone in the U.S. and European Union (EU) doing bitcoin transactions with parties in Iran, according to City A.M., a London, U.K. newspaper. Attorneys Steven Farmer and Matthew Oresman claim some EU and U.S. financial sanctions remain in place against certain Iranian individuals and businesses. (The lawyers are both sanctions experts and Farmer is also a bitcoin....