OFAC Financial News

07.08 / 21:57

Ethereum OFAC Ethereum Block Builders Comply with Tornado Cash Sanctions: Fed Reports

A recent report from the Federal Reserve Bank of New York, released on Wednesday, revealed that Ethereum block builders have largely adhered to the sanctions imposed on the crypto mixer Tornado Cash.

13.06 / 18:41

OFAC us sanctions OFAC Sanctions Russian National Over Money Laundering Through Cryptocurrency

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced additional measures on June 12 to increase pressure on Russia in response to its ongoing conflict with Ukraine.

02.05 / 19:17

OFAC Crypto Addresses US Imposes Sanctions on Crypto Addresses Linked to Russian Drone Maker

The US Treasury’s Office of Foreign Assets Control (OFAC) took action against a developer at OKO Design Bureau on May 1, a Russia-based drone maker. OFAC sanctioned the developer and added three crypto addresses associated with the firm to the Specially Designated Nationals (SDN) list.

26.03 / 07:27

Us Treasury OFAC US Treasury Targets Russian Blockchain Companies for Sanctions Evasion

The US Treasury’s Office of Foreign Assets Control (OFAC) on Monday sanctioned 13 entities and two individuals. They are accused of developing crypto-related services that could facilitate sanctions evasion on behalf of Russian nationals.

17.02 / 08:47

Tether JPMorgan OFAC U.S. Regulators Can Influence Tether’s Offshore Usage: JPMorgan

Tether’s (USDT) dominant position as the largest stablecoin faces regulatory challenges and risks from various authorities and jurisdictions as they seek to impose more transparency and compliance on stablecoins.

23.01 / 03:19

lazarus group Tornado Cash OFAC Tornado Cash Co-Founder Expresses Concerns About Upcoming Trial on Money Laundering Charges

Roman Storm, co-founder of Tornado Cash, a controversial cryptocurrency mixer, expressed fear and sought support from right-to-privacy advocates in anticipation of his upcoming criminal trial.

22.01 / 20:41

BLOCK Action reports Department OFAC Crypto Companies US Treasury Announces New Sanctions Against Hamas-linked Crypto Companies

The United States Department of the Treasury’s Office of Foreign Assets Control has imposed new sanctions on facilitators and networks involved in crypto transactions linked to the Palestinian militant group Hamas.

11.12 / 07:43

Tether Bitcoin OFAC Tether Freezes Tokens of Sanctioned Individuals Listed by OFAC

Tether (USDT), the company behind the world’s largest stablecoin, has frozen the wallets of individuals sanctioned by the U.S. Office of Foreign Asset Controls (OFAC).

21.11 / 12:32

sanctions Tornado Cash OFAC Blockchain Association Sues OFAC Over Sanctions on Tornado Cash

Blockchain Association, the crypto advocacy group, has filed an amicus brief with the US Office of Foreign Assets Control (OFAC).

27.09 / 09:15

Ethereum Binance regulation coinbase censorship OFAC compliance Ethereum OFAC compliance dips to 45% post-Merge upgrade

The historic Merge upgrade from Sept. 2022 — which marked Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) — resulted in the overall decline in compliance with standards laid down by the Office of Foreign Assets Control (OFAC).

26.09 / 22:03

Blockchain Ethereum ETH Provident Platform reports Department OFAC OFAC Blacklists ETH Wallet Operated By Cartel for Illicit Drug Trafficking

In a new round of sanctions, the US Department of Treasury's Office of Foreign Assets Control (OFAC) has added ten more individuals to its blackbook.

31.08 / 06:23

BLOCK Reuters Aware Action Enterprise Indian OFAC OFAC sanctions: India asks US to release ₹215 crore, frozen from Indian diamond cos due to alleged Russia connection

₹215 crore) belonging to two prominent Indian diamond companies, Reuters has reported citing government sources. These funds were frozen in relation to alleged trade connections with the Russian diamond giant Alrosa, which has been subjected to sanctions by the US Treasury's Office of Foreign Assets Control in April 2022. It was the first instance of punitive actions being taken against any Indian business in the aftermath of Russia's military intervention in Ukraine, coupled with subsequent sanctions imposed on Russian entities by Western nations.

13.06 / 05:01

Hackers hacks exchanges sanctions Bitcoin OFAC Atomic Wallet hackers turn to OFAC-sanctioned Garantex: Elliptic

Illicit funds gained from the $35 million Atomic Wallet hack are on the move again, with sanctioned Russian-based crypto exchange Garantex reportedly becoming the latest to come in contact with the hacked crypto.

24.04 / 18:35

hacks regulation FBI OFAC lazarus OFAC sanctions OTC traders who converted crypto for North Korea’s Lazarus group

The United States Treasury Department has identified over-the-counter (OTC) cryptocurrency traders who assisted North Korea’s Lazarus Group in converting stolen crypto into fiat currency. Crypto traders in China and Hong Kong have been sanctioned by the Treasury’s Office of Foreign Assets Control (OFAC). In addition, a China-based banker was sanctioned for coordinating some of the illicit cashflow.

14.02 / 08:49

business Ethereum Adoption regulation us government transactions censorship OFAC Low OFAC-compliant blocks on Ethereum hit three-month low of 47%

The percentage of Ethereum blocks complying with orders set by the United States Office of Foreign Asset Control (OFAC) has now fallen to 47% — the lowest level since Oct. 11.

28.11 / 23:37

regulation Kraken OFAC us sanctions Kraken settles with US Treasury's OFAC for violating US sanctions

The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, has announced a settlement with crypto exchange Kraken for “apparent violations of sanctions against Iran.”

05.11 / 10:15

Ethereum us government censorship Upgrade OFAC compliance Ethereum inches even closer to total censorship due to OFAC compliance

Considering that protocol-level censorship is deterrent to the crypto ecosystem's goal of highly open and accessible finance, the community has been keeping track of Ethereum’s growing compliance with standards laid down by the Office of Foreign Assets Control (OFAC). Over the last 24 hours, the Ethereum network was found to enforce OFAC compliance on over 73% of its blocks.

15.10 / 19:03

Blockchain Ethereum ETH BLOCK OFAC Ethereum: What 50% OFAC censored blocks mean for the ETH blockchain

Ethereum [ETH], as of 14 October, witnessed a never-seen-before surge in censorship as over 50% blocks created over the past day. These blocks came under the purview of the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) following compliance recommendations.

14.10 / 20:47

Blockchain Ethereum censorship Proof-of-stake OFAC 51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

One month after the Merge, 51% of Ethereum blocks were compliant with OFAC standards, according to blockchain development Labrys' data, as MEV-Boost relays take over market share.

23.09 / 10:43

Ethereum regulation Developers Tornado Cash OFAC guidance GitHub unbans Tornado Cash repositories following OFAC guidance

Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website.

09.08 / 12:59

Citizens Platform Action Assurant OFAC Tornado Cash Now Placed Under US OFAC Sanctions

The United States Treasury Department has sanctioned one of the world's most popular crypto mixing platforms, Tornado Cash.

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