Crypto Addresses As OFAC Identifiers

Law360 (December 4, 2018, 6:05 PM EST) -- On Wednesday, Nov. 28, 2018, the U.S. Department of the Treasury's Office of Foreign Assets Control took the significant step of adding digital currency addresses to its list of identifiers for certain designated individuals. In its press release, the Treasury stated that, similar to traditional identifiers, "these digital currency addresses should assist those in the compliance and digital currency communities in identifying transactions and funds that must be blocked and investigating any connections to these addresses."[1]

While this action stands as the first of its kind for the Treasury, the move was presaged by the agency's announcement in March of this year,...

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