News with the tag "office of foreign assets control"

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 ...

Countries targeted by U.S. government sanctions have surged in illicit crypto activity, receiving nearly $16 billion in digital assets last year — about 39% of illicit token transactions — according to a report from Chainalysis released on Wednesday. 2024 was a year in which those nations — especial...

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) says it is dismantling North Korea’s digital asset money laundering network by taking action against individuals and entities involved in the operation. In a statement, the OFAC says it is sanctioning Chinese nationals Lu Huaying...

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is holding accountable five individuals linked to a money laundering network that enabled Russian elites to circumvent international sanctions. In a statement, the Treasury Department says it is imposing sanctions on those associ...

A U.S. federal appeals court has delivered a major legal victory to the crypto sector by throwing out the U.S. Treasury Department's earlier effort to directly sanction crypto mixing service Tornado Cash. The court found that the government didn't have the proper tools to include the actual technolo...

Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transac...

The US Government has named entities and individuals allegedly responsible for providing crypto products and services that aided in the evasion of sanctions on Russia. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) says that it has “sanctioned thirteen entities and two...

In 2022, North Korean hackers swiped crypto worth ten times more than the country earned from exports in 2021, according to US cybersecurity firm Recorded Future.

Blockchain Association, a nonprofit group dedicated to crypto advocacy, is filing a second amicus brief in support of the banned crypto mixer Tornado Cash. In a new announcement, the group says it is filing an amicus brief in favor of Coin Center’s lawsuit against the Office of Foreign Asset Control...