Tag Archives: Bitcoin

Digital Cops and Cyber Robbers: OFAC Guidance on Crypto Currency

Fatema MerchantBy Fatema Merchant on Posted in Anti-Money Laundering, Sanctions
A lot of us in the sanctions compliance world were wondering whether and when OFAC would issue official guidance on its application of sanctions in the digital currency world. On March 18, OFAC issued five FAQs related to virtual currency. Those FAQs convey two important messages: (1) OFAC sanctions regulations apply to virtual currency transactions just as … Continue Reading

Could the Crypto-Rouble Spell Crypto-Trouble for Sanctions?

Fatema MerchantBy Fatema Merchant on Posted in Anti-Money Laundering, Sanctions
Russian President Vladmir Putin has directed his government to develop a state-backed cryptocurrency, according to a Financial Times report published on January 2nd. A Putin advisor says that the “Crypto-rouble” could be used to “settle accounts with our counterparties all over the world with no regard for sanctions.” He added that Russia’s cryptocurrency would be … Continue Reading
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