Binance remains a key conduit for Russian entities looking to convert rubles into digital assets that can then be exchanged for mainstream fiat currencies, according to a Wall Street Journal report.
Plaintiffs claimed that the description of Tornado Cash was inconsistent and that the sanctioned "property" slammed by the OFAC amounts to nothing more than smart contracts.
The sanctioned members of the malware gang Trickbot have been listed under OFAC's SDN and will have all their illicit asset gains, which amounted to over $700 million, seized.
The U.S. Securities and Exchange Commission appears to have the Coinbase and Kraken digital asset exchanges squarely in its sights for dealing in unregistered securities.
OFAC blacklists the BTC and ETH addresses operated by Jonatan and Vladimirovich Zimenkov, both facing allegations of running a Russian sanctions evasion network.
Chainalysis says 2022’s estimates are further complicated by the year’s unprecedented carnage that followed the collapse of major crypto firms, such as Celsius, Three Arrows Capital (3AC), and FTX.
Wednesday's Senate hearing on the FTX debacle saw groups of speakers clash on whether there is a need to regulate the digital asset class or stop governments from interfering with the market.
The settlement relates to 826 transactions worth $1,680,577.10 which were processed by Kraken on behalf of individuals located in Iran, which has been subject to U.S. sanctions since 1987.
Months after being put on the SDN list, OFAC announced that Tornado Cash is linked to North Korea's nuke program in an effort to stomp Pyongyang's illegal weapons advancements.
SBF recently tweeted his "thoughts on crypto regulation" alongside a more detailed set of Possible Digital Asset Industry Standards posted to the policy page of the FTX.US.
Bittrex will settle its $24.3 million penalty for breaching multiple sanctions programs, while Coin Center seeks to tame OFAC's aggression by filing a suit for sanctioning Tornado Cash.
The OFAC sanctioned addresses linked to Task Force Rusich, a group that has been fighting Russia’s battles since 2015, including the latest war in Ukraine.
