OFAC sanctions 13 entities for aiding Russian sanctions evasion via crypto | Headlines | News | CoinMarketCap
03/26/2024 10:58
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Monday sanctioned 13 entities and two individuals for facilitating …
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Published on March 26, 2024 03:46 GMT+00:00edited on March 26, 2024 03:49 GMT+00:00
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Monday sanctioned 13 entities and two individuals for facilitating potential sanctions evasion on behalf of Russian nationals by building cryptocurrency-related services.
The OFAC pointed out in a statement that many of the individuals and entities sanctioned on Monday facilitated transactions or offered services to help other designated entities evade sanctions.
“Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine,” said Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, in the statement.
Nelson added that the Treasury will continue to “expose and disrupt the companies that …