The United States will make cryptocurrency wallets in the sanctions lists

The United States will make cryptocurrency wallets in the sanctions lists

The U.S. Treasury Department can begin to publish the addresses of cryptocurrency wallets together with names of specific people and names of organizations with whom US citizens are prohibited to maintain business relations.

On 19 March the Office of foreign assets control (OFAC) has updated the information in the FAQ section. According to the updated version of the document, the Agency will apply to cryptocurrency as well as for the common Vietnam currencies, when it comes to the sanctions list..

In order to work more effectively with cryptocurrency assets, OFAC can now use the addresses of cryptocurrency wallets as one of the identifiers of persons and entities in the sanctions list.

This will help to “inform the public about the specific cryptocurrency Adarsh related blocked person”. However, address lists “are unlikely to be exhaustive”.

Organizations that identificeret cryptocurrency wallets, as belonging to persons or entities under sanctions, should take all steps necessary to block the corresponding digital currency in these wallets and to inform OFAC of the situation.

OFAC also stated that information on persons and organisations under sanctions now will be a special field for up to 256 alphanumeric characters, and the name or Ticker of the currency.

See also – national security Agency United States monitors all users of bitcoins

Marco santori, President of a startup Blockchain.com and noted that the move is “good news” for bitcoin in a broad sense, though, this can have unintended consequences, such as the growing popularity of anonymous cryptocurrencies:

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