US Treasury Warns Crypto Industry About Preventing Sanctions Violations

Texas News Today

FILE PHOTO: The US Treasury Building can be seen in Washington on September 29, 2008. Reuters / Jim Boule

15 October 2021

WASHINGTON (Reuters) – In a sweeping effort to reduce the use of cryptocurrencies to help pay ransomware demand, the US Treasury on Friday said it will not help the crypto community, directly or indirectly, by promoting banned transactions. US sanctions said it was responsible for doing so.

“The cryptocurrency industry, including tech companies, exchanges, managers, miners, wallet providers, and users, allows permissive people to misuse cryptocurrencies to evade sanctions and benefit US foreign policy and national security. This helps prevent damage. is playing an increasingly important role,” said the new guidance from the Finance Ministry.

(Reporting by Chris Sanders, Edited by Chizu Nomiyama)

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