Easy come, easy go. On January 29, 2024, OFAC published General License 43A under the Venezuela Sanctions Regulations, which partially rolled back a piece of the sanctions relief it provided to the country only a few months...more
On December 13, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced an enforcement action against CoinList Markets LLC (“CoinList”) for violations of the Ukraine-/Russia-Related...more
12/19/2023
/ Compliance ,
Corruption ,
Crimea ,
Crypto Exchanges ,
Cryptocurrency ,
Economic Sanctions ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Sanction Violations ,
Ukraine ,
White Collar Crimes
Control de Activos Extranjeros (“OFAC”) del Departamento del Tesoro de EE.UU. promulgó una serie de licencias generales al gobierno de Venezuela para brindarle un alivio al país de las sanciones económicas. La OFAC promulgó...more
11/8/2023
/ Compliance ,
Corruption ,
Economic Sanctions ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Relief Measures ,
Venezuela ,
White Collar Crimes
As we discussed previously, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) recently provided Venezuela with much needed sanctions relief. Specifically, OFAC issued General License 44 (among...more
11/7/2023
/ Compliance ,
Corruption ,
Economic Sanctions ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Relief Measures ,
Venezuela ,
White Collar Crimes
El 18 de octubre de 2023, la Oficina de Control de Activos Extranjeros (“OFAC”) del Departamento del Tesoro de los Estados Unidos tomó varias medidas para proporcionar un alivio (limitado) de sus sanciones económicas en...more
On October 18, 2023, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) took several steps to provide Venezuela with some limited relief from its sanctions. The relief includes General Licenses...more
10/23/2023
/ Compliance ,
Corruption ,
Economic Sanctions ,
Foreign Policy ,
Foreign Relations ,
General Licenses ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Relief Measures ,
Venezuela ,
White Collar Crimes
In early October, U.S. Department of Justice (“DOJ”) Deputy Attorney General Lisa Monaco announced the creation of the National Cryptocurrency Enforcement Team (“NCET”). The NCET will handle the Department’s investigations...more
11/12/2021
/ Anti-Corruption ,
Anti-Money Laundering ,
Bitcoin ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Enforcement Priorities ,
Enforcement Strike Teams ,
Financial Crimes ,
Financial Instruments ,
Financial Markets ,
Government Investigations ,
Policy Statement ,
Regulatory Oversight ,
Virtual Currency ,
White Collar Crimes
The crypto industry is abuzz with a recent scandal involving OpenSea, the largest NFT marketplace in the industry (for those not in the know, NFT stands for non-fungible token, and the most common use case at the moment is to...more
DOJ’s Cyber Digital Task Force’s report, “Cryptocurrency: An Enforcement Framework,” provides a comprehensive on the growing partnerships between DOJ and other offices within the executive branch....more
11/3/2020
/ BitMEX ,
CFTC ,
Compliance ,
Corruption ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Transactions ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Initial Coin Offering (ICOs) ,
IRS ,
Know Your Customers ,
Money Laundering ,
OCC ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency ,
White Collar Crimes
On June 21, 2019, OFAC changed its requirements for reporting on blocked or rejected transactions under 31 C.F.R. §501.604. With little fanfare, the interim rule published in the Federal Register greatly expands the...more
Many organizations struggle with their internal culture for a variety of reasons. Establishing a strong and compliant corporate culture is paramount for an effective compliance program, as even the DOJ has harped on in its...more