The Office of Foreign Assets Control said it was taking additional action against the crypto exchange after including it on its list of Specially Designated Nationals in 2022.
The US Treasury’s Office of Foreign Assets Control (OFAC) has redesignated cryptocurrency exchange Garantex Europe to its list of sanctioned entities.
In a Thursday notice, OFAC said it had redesignated Garantex as well as sanctioned its “successor,” Grinex, three Garantex executives and six Russia- and Kyrgyz Republic-based companies for allegedly facilitating illicit transactions. According to the government agency, the Garantex exchange processed more than $100 million tied to illicit activities since 2019.
“Digital assets play a crucial role in global innovation and economic development, and the United States will not tolerate abuse of this industry to support cybercrime and sanctions evasion,” said John Hurley, under secretary of the Treasury for terrorism and financial intelligence.
Read more
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
If you want to read more News articles, you can visit our General category.
