OFAC Sanctions: Lists, Designations, and Your Obligations

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The concept The Office of Foreign Assets Control (OFAC), part of the US Treasury, administers economic sanctions programs that restrict or prohibit transactions with designated countries, entities, and individuals. For a crypto business, OFAC compliance is a strict-liability obligation: it applies regardless of intent, regardless of transaction size (there is no minimum threshold, unlike the Travel Rule or CTR filing),……

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