U.S. Treasury Department Under Secretary Sigal Mandelker called for global efforts to police malicious actors' use of cryptocurrencies.
Recent OFAC actions are just the first step in crypto sanctions enforcement, write attorneys Beau Barnes and Jake Chervinsky.
For the first time, the U.S. Treasury Department is adding crypto addresses to its list of Specially Designated Nationals.
The everyday crypto user in the future is likely to spend time identifying illicit wallets and transactions to avoid, thanks to the U.S. Treasury.
With just one paragraph, an agency of the U.S. government may have just radically altered the dynamics of the cryptocurrency ecosystem.
The Treasury Department may start publishing wallet addresses along with the names of people and organizations with whom it forbids doing business.
If OFAC turns its eye toward cryptocurrencies, it could be only a matter of time before it makes an example of one or more entities to send a message.
As travelers to Cuba can attest, an unfortunate reality of cryptocurrency services today is the poor customer support.