{"id":51295,"date":"2021-10-15T19:52:08","date_gmt":"2021-10-15T16:52:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51295"},"modified":"2025-09-02T22:54:16","modified_gmt":"2025-09-02T19:54:16","slug":"u-s-treasury-issues-sanctions-compliance-guidance-for-participants-in-the-crypto-industry","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-treasury-issues-sanctions-compliance-guidance-for-participants-in-the-crypto-industry\/","title":{"rendered":"U.S. Treasury issues sanctions-compliance guidance for participants in the crypto industry"},"content":{"rendered":"

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) \u043e\u043f\u0443\u0431\u043b\u0438\u043a\u043e\u0432\u0430\u043b\u043e<\/a> instruction for representatives of the cryptocurrency industry on complying with American sanctions.<\/p>\n

The document recommends using ‘geolocation tools’ to identify and block IP addresses from restricted jurisdictions.<\/p>\n

Authorities include miners, technology companies, exchanges and traditional financial institutions that may have access to cryptocurrencies among those required to develop risk assessment programs.<\/p>\n

\n

“The obligation to comply with OFAC sanctions applies equally to transactions in virtual currencies and in traditional currencies [\u2026]. Participants in the virtual currency sector are responsible for ensuring that they do not directly or indirectly participate in transactions that fall under sanctions,” the guidance states.<\/p>\n<\/blockquote>\n

The department separately reminded of administrative and criminal liability for non-compliance.<\/p>\n

In September the U.S. Treasury included in the sanctions list the cryptocurrency exchange Suex<\/a> with offices in Moscow and Saint Petersburg, as well as 25 addresses on the Bitcoin, Ethereum and Tether networks.<\/p>\n

According to the agency, funds passing through the platform were those of operators of at least eight ransomware programs, scam projects, dark-net marketplaces and the now-defunct BTC-e exchange.<\/p>\n

The ForkLog newsroom was approached by several platform users<\/a> who were blocked due to potential ties to Suex. Later, six Binance customers reported the lifting of restrictions<\/a> on their accounts.<\/p>\n

Earlier, the Bitcoin exchange Binance reported the removal<\/a> of several accounts linked to Suex addresses, in line with its internal security measures.<\/p>\n

Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 all the news, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) published guidance for representatives of the cryptocurrency industry on complying with U.S. sanctions.<\/p>\n","protected":false},"author":1,"featured_media":51296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[686,26],"class_list":["post-51295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-sanctions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51295"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51295\/revisions"}],"predecessor-version":[{"id":51297,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51295\/revisions\/51297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51296"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}