News with the tag "OFAC"

A US federal court has officially overturned its previous support for the Treasury’s sanctions on Tornado Cash. This has dealt a blow to the Office of Foreign Assets Control (OFAC) and given privacy advocates something to toast. The ruling suggests that OFAC’s original sanctions violated the Adminis...

North Korean cyber operatives quietly formed two limited-liability companies in the United States and used them to slip harmful code to job-seeking software engineers in the cryptocurrency world, according to U.S. legal filings and research shared with Reuters. Silent Push, a cybersecurity firm, say...

Bitcoin Magazine US Treasury Removes Tornado Cash From OFAC Sanctions List The Department of Treasury has lifted Sanctions on Tornado Cash, the Ethereum based smart contract mixer, following a series of legal defeats and administrative challenges. “Based on the Administration’s review of the novel l...

The Treasury Department’s Office of Foreign Asset Control (OFAC) is removing Tornado Cash from its Specially Designated Nationals (SDN) blacklist. According to a new announcement from the Treasury Department, OFAC is removing economic sanctions against the crypto protocol. Tornado Cash is a “crypto ...

Stablecoin operator Tether has revealed that it has frozen $27 million in USDT on the sanctioned Russian crypto exchange, Garantex. The cryptocurrency exchange has also suspended all its trading and withdrawal services. The U.S., through the U.S. Department of the Treasury’s Office of Foreign Assets...

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is blacklisting a handful of crypto addresses linked to a man known for allegedly running Nemesis, a now-defunct darknet marketplace. In a new press release, the OFAC says that it is sanctioning Iranian national Behrouz Parasad a...

In a significant move against illicit cryptocurrency activities, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has just announced urgent crypto sanctions targeting 49 digital addresses. These addresses are reportedly tied to Behrouz Parsarad, the administrator of the ...

The United States has sanctioned Behrouz Parsarad, the founder and administrator of the darknet site Nemesis. Forty-nine crypto wallets belonging to Parsarad were sanctioned as well. Nemesis itself was shut down last year. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announ...

Kraken’s 2024 Transparency Report has revealed that global law enforcement and regulatory agency requests to the exchange in 2024 rose by about 39%. U.S. enforcement agencies made the most requests to the exchange globally, 28.6% of all requests and 1,951 out of the 6,826 requests made in 2024. The ...

The world of cryptocurrency, often lauded for its decentralized and permissionless nature, is increasingly under scrutiny for its use in illicit activities. A recent Chainalysis report has brought to light a concerning trend: sanctioned entities and jurisdictions have received a staggering $15.8 bil...