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Office of Foreign Assets Control (OFAC) Executive Orders Cryptocurrency

Paul Hastings LLP

A Whirlwind of Change: The Delisting of Tornado Cash

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Over the past several years, as U.S. regulators have grappled with the increasing use of cryptocurrency across a spectrum of legitimate and illegitimate commerce, the U.S. Department of Commerce’s Office of Foreign Assets...more

BakerHostetler

Weekly Blockchain Blog - March 2025 #2

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Executive Order Establishes Strategic Bitcoin Reserve, Digital Asset Stockpile - On March 6, President Trump issued an executive order (EO), Establishment of the Strategic Bitcoin Reserve and United States Digital Asset...more

Paul Hastings LLP

Crypto Executive Order: A New Era for Digital Assets

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President Trump’s crypto executive order (the Crypto Executive Order) was a first step in the Trump Administration’s articulation of a policy on promoting the lawful use of blockchain technology. It remains to be seen whether...more

Bracewell LLP

An "Immutable" Force Meets an Immovable Object: OFAC's Crypto Loss at the Fifth Circuit

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On November 26, 2024, the US Court of Appeals for the Fifth Circuit ruled that “immutable” smart contracts are not “property” for purposes of regulation by the US Department of the Treasury’s Office of Foreign Assets Control...more

Orrick, Herrington & Sutcliffe LLP

OFAC sanctions actors facilitating DPRK virtual currency laundering

On April 24, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, pursuant to Executive Orders 13722 and 13382, against three individuals for providing material support to the Democratic...more

Harris Beach Murtha PLLC

Blockchain and Digital Assets: 2022 In Cryptocurrency

With 2022 now fading into the background and 2023 underway, a review of some of the 2022 highlights in cryptocurrency provides an opportunity to look at the developments of the past year with a fresh perspective – and to...more

BakerHostetler

White House Issues Statement on Crypto; Bitcoin ETF Rejected; OFAC Sanctions Public Keys; Regulators Address Digital Assets;...

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White House Addresses Crypto Risks; Blockchain Firm Wins Air Force Contract - The White House issued a statement last week briefly outlining the Biden administration’s road map to mitigate the risks of cryptocurrencies,...more

McGlinchey Stafford

Cryptocurrency’s impact on BSA/AML and Sanctions programs

McGlinchey Stafford on

The market for digital assets has exploded in recent years. Digital and virtual currency activities provide great opportunities financially and technologically. However, such currencies can be utilized for illicit activity...more

BakerHostetler

Ethereum Moves to PoS; Firms Launch Crypto, NFT Initiatives; EO Crypto Energy Impact Report Published; Crypto Addressed by OFAC,...

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Ethereum Network Completes Transition to Proof of Stake Consensus - After years of development and delays, Ethereum’s long-awaited “merge” occurred this week, changing the network’s consensus mechanism from proof-of-work...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

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The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Husch Blackwell LLP

US DOJ Responds to Biden Executive Order on Digital Assets

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On March 9, 2022, President Joseph Biden issued Executive Order 14067, which charged the Department of Justice (in consultation with the Departments of State, Treasury, and Homeland Security) to submit a report on how to...more

K2 Integrity

Sanctions Against Russia: Understanding the Evolving Picture and How to Respond

K2 Integrity on

...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more

Perkins Coie

Recent Developments in US Sanctions and Export Controls Targeting Russia

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Following Russia’s recognition of breakaway regions in Ukraine and full-scale invasion of the country, authorities in the United States, United Kingdom, European Union, and across the globe imposed a sweeping array of trade...more

Bracewell LLP

KYC in a Digital World, How New Sanctions and AML Expectations Have Upped the Stakes and What you Need to Do About it

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“Know your customer” is a bed rock principle of anti-money laundering and sanctions compliance programs, but it’s not always easy, particularly as more sophisticated and aggressive players have taken the field in recent...more

Foley Hoag LLP

Russia and Belarus Sanctions Update – March 15, 2022

Foley Hoag LLP on

On March 11, 2022, President Biden signed a new Russia-related Executive Order, Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression (“March 11 E.O.”)....more

McDermott Will & Emery

OFAC Reaffirms Focus on Virtual Currency with Sanctions Law Guidance

McDermott Will & Emery on

On October 15, 2021, the US Department of the Treasury’s Office of Foreign Asset Control (OFAC) announced updated guidance for virtual currency companies in meeting their obligations under US sanctions laws. On the same day,...more

K2 Integrity

OFAC Releases Updated Ransomware Advisory and Announces First Designation of Cryptocurrency Exchange

K2 Integrity on

On 21 September 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory that highlights the sanctions risks associated with making ransomware payments. OFAC reiterated...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: Key Developments in US Sanctions

In 2018, the United States continued to expand its sanctions programs and increase enforcement. While President Donald Trump’s decision to re-impose nuclear-related sanctions on Iran has perhaps drawn the most attention, key...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Jones Day

Trump Administration Imposes Venezuelan Digital Currency Sanctions

Jones Day on

On March 19, 2018, President Trump signed an Executive Order prohibiting U.S. persons and anyone within the United States from engaging in "transactions related to, [the] provision of financing for, and other dealings in ......more

Dechert LLP

OFAC Releases Guidance on Cryptocurrency

Dechert LLP on

The U.S. government has recently been active with respect to regulating cryptocurrencies. For its part, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) recently released guidance—issued in the form of...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - March 2018

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Perkins Coie

OFAC Warns that Venezuela’s Proposed Digital Currency May Violate U.S. Sanctions

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On January 19, 2018, the U.S. Office of Foreign Assets Control (OFAC), in response to a question, warned that a U.S. person’s acquisition of, or dealing in, a cryptocurrency that Venezuela intends to issue in the future may...more

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