Office of Foreign Assets Control Archives

US flags BTC, ETH wallets linked to Russian sanctions evasion network

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4 February, 2023

US flags BTC, ETH wallets linked to Russian sanctions evasion network

OFAC blacklists the BTC and ETH addresses operated by Jonatan and Vladimirovich Zimenkov, both facing allegations of running a Russian...

Chainalysis ‘Crypto Crime Report’ details OFAC sanctions’ impact

Business

Steven Stradbrooke

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16 January, 2023

Chainalysis ‘Crypto Crime Report’ details OFAC sanctions’ impact

Chainalysis says 2022’s estimates are further complicated by the year’s unprecedented carnage that followed the collapse of major crypto firms,...

Senate committee digs into the burst FTX bubble

Business

James Field

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15 December, 2022

Senate committee digs into the burst FTX bubble

Wednesday's Senate hearing on the FTX debacle saw groups of speakers clash on whether there is a need to regulate...

Kraken’s $362,000 sanctions settlement spells trouble for Binance

Business

Jordan Atkins

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30 November, 2022

Kraken’s $362,000 sanctions settlement spells trouble for Binance

The settlement relates to 826 transactions worth $1,680,577.10 which were processed by Kraken on behalf of individuals located in Iran,...

OFAC: Tornado Cash linked to North Korean nukes

Business

Gavin Lucas

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11 November, 2022

OFAC: Tornado Cash linked to North Korean nukes

Months after being put on the SDN list, OFAC announced that Tornado Cash is linked to North Korea's nuke program...

FTX’s Sam Bankman-Fried pens ‘Crypto Regulation for Dummies’

Business

Steven Stradbrooke

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21 October, 2022

FTX’s Sam Bankman-Fried pens ‘Crypto Regulation for Dummies’

SBF recently tweeted his "thoughts on crypto regulation" alongside a more detailed set of Possible Digital Asset Industry Standards posted...

US Treasury fines Bittrex $29.3 million, Coin Center files Tornado Cash suit

Business

Steven Stradbrooke

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17 October, 2022

US Treasury fines Bittrex $29.3 million, Coin Center files Tornado Cash suit

Bittrex will settle its $24.3 million penalty for breaching multiple sanctions programs, while Coin Center seeks to tame OFAC's aggression...

US Treasury’s latest sanctions target BTC, ETH addresses of Russian paramilitary group

Business

Steve Kaaru

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20 September, 2022

US Treasury’s latest sanctions target BTC, ETH addresses of Russian paramilitary group

The OFAC sanctioned addresses linked to Task Force Rusich, a group that has been fighting Russia’s battles since 2015, including...

US Treasury issues sanctions against 10 malware-linked Iranians, targets BTC addresses

Business

Steve Kaaru

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17 September, 2022

US Treasury issues sanctions against 10 malware-linked Iranians, targets BTC addresses

The Treasury claimed that the group has been targeting American institutions since 2020 with malware including APT 35, and linked...

Publishing Tornado Cash code does not violate sanctions: US Treasury

Business

Gavin Lucas

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15 September, 2022

Publishing Tornado Cash code does not violate sanctions: US Treasury

The U.S. Department of Treasury has clarified that visiting the Tornado Cash website, copying its open source code, or making...

Coinbase funding Tornado Cash users’ lawsuit against US Treasury Department

Business

Jon Southurst

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9 September, 2022

Coinbase funding Tornado Cash users’ lawsuit against US Treasury Department

Coinbase's Chief Legal Officer Paul Grewal said the sanctions "set a dangerous precedent" and claims it will have a chilling...

OFAC lays bare the myth of decentralization

Business

Gavin Lucas

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31 August, 2022

OFAC lays bare the myth of decentralization

OFAC said that The Lazarus Group used Tornado Cash to launder and steal digital currencies. The Treasury Department would also...

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