UK Says Crypto Sector Likely Under Reporting Sanction Breaches

Description

Crypto companies in the U.K. have almost certainly been under-reporting breaches of financial sanctions since as far back as 2022, the Office of Financial Sanctions Implementation (OFSI) said in a Monday report , as the nation imposed more sanctions on Russia . The report, which is a sanctions threat assessment focused entirely on crypto, said most of the non-compliance by U.K. crypto firms was likely to be inadvertent and resulted from exposure to a named, or designated, person. Exposure could ...