OFAC may add virtual currencies to sanctions list

The Office of Foreign Asset Control (OFAC) has said it was considering including digital currency addresses to its Specially Designated Nationals (SDN) list.

In an update to the FAQ section on its website, entitled "Questions about Virtual Currency", OFAC said that it "may add digital currency addresses to the SDN List to alert the public of specific digital currency identifiers associated with a blocked person". The department, which is part of the US Treasury Department, noted that OFAC compliance obligations are the same irrespective of whether a transaction is carried out with traditional fiat currency or a virtual currency.

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