What's Hot

    In the Russian Federation will develop the rules of work for crypto-exchanges

    29.05.2023

    Decrease in Ether supply contributed to its rebound above $1,800

    29.05.2023

    Singer Karen Mock hit the stage in a CryptoPunks dress

    28.05.2023
    Facebook Twitter Instagram
    Monday, May 29
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Regulators»FinCEN warned about the use of cryptocurrencies by the Russian Federation to circumvent sanctions
    1646729994 832a8c4286873a50bbac7b3f46705ab237dfcf4a
    Regulators

    FinCEN warned about the use of cryptocurrencies by the Russian Federation to circumvent sanctions

    AdministratorBy Administrator08.03.2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~2 m


    The U.S. Financial Crime Enforcement Network (FinCEN) has warned of Russia’s possible use of cryptocurrencies to circumvent sanctions for invading Ukraine.

    “While we have not seen widespread evasion of our sanctions using methods such as cryptocurrencies, prompt reporting of suspicious activity contributes to our national security and efforts to support Ukraine and its people,” he said. director Him Das.

    In a published warning, the agency reminded companies of the need to monitor compliance with the restrictions imposed.

    “With mounting economic pressure on Russia, it is critical that U.S. financial institutions remain vigilant about potential Russian sanctions evasion, both by state actors and oligarchs,” Das said.

    FinCEN noted that restriction evasion can occur in a variety of ways. One of the ways in the department was called unauthorized Russian and international banks, which retain some access to the international system.

    FinCEN does not expect large-scale operations to circumvent sanctions using cryptocurrencies. But the department believes that there will be attempts to use wallets and other services by Russian or Belarusian entities.

    In this regard, FinCEN reminded crypto companies of the need to identify and report suspicious activity. Relevant information will be passed to the US Department of Justice, international partners and task forces created to track and freeze the assets of Russian elites.

    Recall, according to industry lawyer Jack Chervinsky, Russia cannot and will not use cryptocurrencies to circumvent US-imposed restrictions.

    However, a number of American crypto companies, including Ripple, Tether and OpenSea, have declared their readiness to support the sanctions regime. The Coinbase exchange has blocked 25,000 addresses associated with Russian individuals and legal entities.




    #FinCEN #warned #cryptocurrencies #Russian #Federation #circumvent #sanctions

    circumvent cryptocurrencies Federation FinCEN Russian Sanctions warned
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    In the Russian Federation will develop the rules of work for crypto-exchanges

    29.05.2023

    SEC recognized 37 cryptocurrencies as securities: what now

    28.05.2023

    Gemini and Genesis demanded the court to dismiss the lawsuit of the US regulator SEC

    28.05.2023

    China will lift the ban on cryptocurrencies?

    28.05.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • In the Russian Federation will develop the rules of work for crypto-exchanges
    • Decrease in Ether supply contributed to its rebound above $1,800
    • Singer Karen Mock hit the stage in a CryptoPunks dress
    • Owners of 1 million Shiba Inu (SHIB) wallets suffer losses
    • “Bitcoin is unlikely to hit all-time highs this year”
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.