OFAC

Auto Added by WPeMatico

Marathon Mines First OFAC Compliant Bitcoin Block

by

Marathon, one of the biggest bitcoin mining dedicated companies in the U.S. and Canada, has mined the first OFAC compliant bitcoin block, only accepting transactions that comply with the directives of this government office. This has caused a stir in libertarian circles, that argue this can be the start of censorship in the bitcoin blockchain … Read more

OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

by

Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some are assuming the hearsay stems from the recent Russian sanctions … Read more

A New Bitcoin Mining Pool Claims It Has Tools to Censor Blockchain Transactions

by

A blockchain and technology company claims its new bitcoin mining pool is embedded with tools that enable the pool to censure transactions in the blocks they mine. According to a statement issued by the DMG, the parent company to Blockseer mining pool, this ability allows the latter to “exceed” the compliance requirements of the U.S. … Read more

3 Reports Look at North Korea’s Lazarus Group, Iran’s Farhad Exchange, and the Crypto Ponzi Futurenet

by

On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions … Read more

Bitcoin.com Local Gathers Steam as Other P2P Markets Falter

by

The bitcoin marketplace Localbitcoins was once the most popular peer-to-peer (P2P) trading platform. But during the last few years, the company’s trading requirements and KYC implementation have caused an influx of traders to migrate to different P2P crypto markets. The mass departure has caused business on Localbitcoins to drop like a rock and volumes haven’t … Read more

US Sanctions Moscow’s Evrofinance Bank Over Involvement With Petro

by

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Moscow-based Evrofinance Mosnarbank. The Russian bank was allegedly involved in Venezuela’s attempts to bypass financial sanctions using the petro. Also Read: In the Daily: Exchange to List STOs, Crypto Tax Tool for Accountants, Coinbase Updates US Sanctions Evrofinance The … Read more

Thousands of Banned Binance Customers Remain Cut off by the Exchange

by

Binance, the world’s second largest digital asset exchange by traded volume, has withdrawn its services from countries targeted by U.S. economic sanctions, in line with its controversial revised terms of use. However, the ban affects entire populations in countries such as Zimbabwe, where U.S. restrictions are supposed to specifically target individuals and companies. Also read: Bitcoin … Read more

U.S. Treasury Plans to Add Cryptocurrency Addresses to the SDN List

by

This week the U.S. Treasury Department issued guidelines on how the Office of Foreign Assets Control (OFAC) could add cryptocurrency addresses to the country’s sanction list. Also read: New Tools Help Crypto Traders Make Smarter Decisions Cryptocurrency Addresses to be Added to the U.S. Sanctions List The U.S. government may soon have the ability to add … Read more