Rogue states dodge economic sanctions, but is crypto in the wrong?
Cointelegraph
Published Jun 08, 2021 09:44AM ET
Updated Jun 08, 2021 10:00AM ET
When the United States first began going after crypto companies for violating its economic sanctions rules, it didnt exactly start with a bang.
In December, the Treasury Departments Office of Foreign Assets Control (OFAC) announced a settlement with crypto wallet provider BitGo after the Palo Alto firm failed to prevent persons apparently located in the Crimea region, Iran, Sudan, Cuba and Syria from using its non-custodial secure digital wallet management service. The penalty for the 183 apparent violations of U.S. sanctions? An underwhelming $98,830.
h4 More enforcement actions are coming/h4 h4 Is DeFi problematic?/h4 h4 Part of a larger, global regulatory trend/h4 h4 A Bretton Woods for crypto?/h4 h4 Decentralization at odds with the law?/h4Continue Reading on Coin Telegraph
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Written By: Cointelegraph
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