04 March 2022 14:53, UTC
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The Ministry of Digital Transformation of Ukraine and the analytical company Crystal Blockchain announced a partnership to detect transactions of Russian citizens under sanctions.
According to the requirements of the Office of Foreign Assets Control of the US Department of the Treasury (OFAC), individuals and legal entities that are subject to sanctions cannot conduct operations on cryptocurrency wallets.
Crystal has updated information regarding virtual assets held by sanctioned individuals. The company will receive up-to-date information from the local authorities of Ukraine, the Ministry of Digital Development and the Cyber Police.
As Deputy Minister of Digital Transformation Alexander Bornyakov stated in a comment to ForkLog, the task of the department will be “to block the assets of Russians under sanctions.”
You can report suspicious transactions here.
Earlier, a number of exchanges and crypto platforms announced their readiness to block Russian users, provided that sanctions are extended to individual citizens.
In turn, the Ministry of Digital Development of Ukraine confirmed that they would require cryptocurrency exchanges to completely block the wallets of users from the Russian Federation.
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