Tagged: office of foreign assets control

US Treasury Department Blocks Crypto Addresses of Chinese Fentanyl “Kingpins”

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) have named several Chinese nationals, “as significant foreign narcotics traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act).” OFAC is also, “identifying Bitcoin addresses associated with these… Read More

US Treasury Department Sanctions First Bitcoin Addresses

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned the Bitcoin addresses of two Iranians the office says processed Bitcoin ransoms on behalf of Iranian hackers who targeted government and business sites in the US and Canada. Anyone who does… Read More

AML and Sanctions Compliance Issues Facing Cryptocurrency Companies

Over the past few years, continued advancements in the payments industry and financial services technology have significantly expanded the way money financial transactions are processed and managed.  Banks and payment and technology firms are accelerating efforts to innovate and adapt financial services alternatives to meet… Read More

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