Regulations

Story: OFAC Targets the Schemes Involving Cryptocurrency

By Dan Saada

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A cryptocurrency firm in New York promised a 900% return in just two weeks, and the regulators in Texas filed a cease and desist order against the company.

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About 15 nations from across the world are teaming up together to monitor suspicious cryptocurrency transfers.

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The Financial Action Taskforce will be designing this system.  The organization will be focusing on combating money laundering and will be establishing detailed strategies…

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The OFAC expressed great interest in regulating cryptocurrency with due enforcement. The OFAC expressed its interest in cryptocurrency regulation when Venezuela announced its…

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OFAC then published, “U.S. persons that deal in the prospective Venezuelan digital currency may be exposed to U.S. sanctions risk.

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The clear road map of sanctions from the OFAC targets the schemes involving cryptocurrency.  Regulation and enforcement of cryptocurrencies are listed as the major priorities of…

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The OFAC will also consider the intersection between these schemes, which involves ransomware threats and potential cybersecurity issues related to digital currency transactions.

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OFAC Guidance requires investors to ensure that applicable laws, rules, and regulations are complied with.

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Thailand will be amending its AML norms to regulate cryptocurrency transactions.

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The AMLO official comment read thus: “We may not find any clue, but that doesn't mean the wrongdoing does not occur.”

The Currency Analytics

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