In keeping with its recent focus on the crypto asset industry, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced an agreement last week with crypto asset trading platform Poloniex, LLC...more
On October 11, 2022, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced settlements with Bittrex Inc. (Bittrex). The settlements arise from violations of...more
10/19/2022
/ Anti-Money Laundering ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Economic Sanctions ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanctions
The global NFT (non-fungible token) market now is worth dozens of billions of dollars annually. Innovators and early adopters, marketplaces, and sellers, are all eager to join this market but may have questions about how to...more
5/24/2022
/ Anti-Money Laundering ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Economic Sanctions ,
Financial Institutions ,
Financial Markets ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Virtual Currency
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) published new guidance last week for the virtual currency industry. While OFAC's economic sanctions compliance obligations apply to all U.S. persons, the...more