2 / 2 Relevant items tagged with #OFAC

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Treasury Sanctions Ethereum Wallet Used by Sinaloa Cartel to Launder Fentanyl Financing 

[Sep 26, 2023 12:30 PM] The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned an Ethereum wallet used by the Sinaloa Cartel to launder money from fentanyl sales in the U.S. Mario Alberto Jimenez Castro, an accused money launderer for the…

Ethereum Wallet Tied to Sinaloa Cartel Sanctioned by U.S. Government

[Sep 26, 2023 8:45 AM] The United States' Office of Foreign Assets Control (OFAC) has sanctioned an Ethereum wallet tied to a Mexican man from Sinaloa named Jimenez Castro.

Tornado Cash Devs Are Caught in a U.S. Dragnet

[Aug 24, 2023 2:06 PM]

US Court Classifies Tornado Cash as ‘Person’ in Verdict Echoing Ooki DAO Designation

[Aug 19, 2023 12:30 PM] A recent ruling by a U.S. judge declared that Tornado Cash holds the legal status of a “person.” This development came on the heels of a previous verdict in June, which recognized the decentralized autonomous organization Ooki DAO in a…

Coinbase-Backed Group Loses Lawsuit Arguing Tornado Cash Sanctions Overstepped U.S. Treasury's Authority

[Aug 17, 2023 2:21 PM] A group of crypto investors and developers lost a lawsuit funded by Coinbase which sought to argue that the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service.

Stablecoin Wallet Rpay Secures License from OFAC to Continue Operating in Venezuela

[Jun 29, 2023 10:00 AM] The approval does not absolve Rpay of its compliance duties, but does eliminate the growing compliance risk, the company said.

Crypto lobbyists still fighting to axe 'unlawful' Tornado Cash sanctions

[Jun 4, 2023 11:48 PM] The crypto industry advocacy group has placed its support behind Coin Center and its lawsuit against the U.S. Treasury over its Tornado Cash sanctions.

U.S. Treasury Sanctions North Korean-Owned Binance Wallets; Says Entities Used Funds to Support WMD Programs

[May 23, 2023 9:25 AM] The Binance-hosted wallets received more than $2 million worth of various cryptocurrencies that were then sent on to North Korean entities, OFAC alleged

U.S. Sanctions Watchdog Alleges Russia-Linked Crypto Wallet Processed $5M

[May 19, 2023 1:39 PM] An Irish national helped wealthy Russians evade sanctions and hide money in UAE, OFAC alleged Friday.

De-Risking or Decoupling? China- US Bilateral Trade Falls More Than 10% This Year

[May 15, 2023 5:30 AM] Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These…

Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges

[May 1, 2023 12:22 PM] Crypto exchange Poloniex will remit $7.59 million to settle sanctions violations allegations with the U.S. Treasury Department's Office of Foreign Asset Control (OFAC), the sanctions watchdog announced Monday.

U.S. Sanctions 3 North Koreans for Supporting Hacking Group Known for Crypto Thefts

[Apr 24, 2023 8:33 AM] The U.S. Treasury Department's sanctions watchdog banned three North Korean individuals for supporting the Lazarus Group, a North Korean hacking team known for crypto thefts.

Russian Foreign Minister Sergey Lavrov Explains ‘Multipolar’ World View in Brazil

[Apr 18, 2023 11:30 PM] Sergey Lavrov, the Russian foreign minister, started his tour of Latin America on April 17, landing first in Brasilia to hold high-level talks with Brazilian President Luiz Inacio ‘Lula’ da Silva and Brazilian Foreign Minister Mauro…

How OFAC’s Tornado Cash Sanctions Violate U.S. Citizens’ Constitutional Rights

[Apr 18, 2023 9:06 AM] In filing a “friend of the court” brief, the Blockchain Association argues that financial privacy is fundamental – even in the digital realm.

US Treasury Secretary Janet Yellen Acknowledges Sanctions Weaponization Could Hurt Dollar Hegemony

[Apr 17, 2023 4:00 AM] U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions…

China Opposes Recent US Sanctions for Chinese Firms, Criticizes ‘Long-Arm’ Jurisdiction Policies

[Apr 17, 2023 2:00 AM] The government of China protested the enactment of sanctions on a series of national companies by the U.S., barring them from doing business with U.S.-based entities for allegedly collaborating with Russia. China’s Commerce Ministry criticized the…

Coinbase supports new court action to remove Tornado Cash ban

[Apr 5, 2023 9:28 PM] The motion is part of a broader effort to restore internet privacy rights for United States citizens.

Latest Ethereum Blocks Suggest Validators Are Reversing Censorship

[Mar 22, 2023 5:00 AM] Non-censoring relays such as Agnostic and ultra sound are delivering more data blocks on Ethereum than Flashbots, the one-time king of MEV-delivering relays.

‘Ultra Sound’ Money — Simulation Shows Ethereum’s Inflation Rate Is Significantly Lower Using Proof-of-Stake

[Dec 29, 2022 2:30 PM] Its been 105 days since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network and the number of Ethereum validators is set to surpass 500,000 in 2023. According to metrics, Ethereum’s issuance rate of…

Treasury officials would have done more for national security by leaving Tornado Cash alone

[Dec 5, 2022 11:46 AM] Tornado Cash contributes to our national security interests more than it undermines them.

Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations

[Nov 30, 2022 1:00 AM] Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its…

Don’t Forget the Importance of Censorship Resistance

[Nov 28, 2022 11:30 PM] Since people are once again talking about self-custody as one of crypto’s unique strengths, I would like to remind everyone about an equally important fundamental value proposition of crypto that, in the early days, was touted as the killer…