The US Treasury can add cryptococal subjected individuals to the blacklist
The U.S. Treasury Department can start to add digital currency to its sanctions list if they will link them to subject to sanctions by the physical person according to the document, released on March 19.
The office of foreign assets control (OFAC) can add the addresses and the wallets of digital currency to the list of specially designated nationals and blocked persons (SDN). This will “alert the public to specific identified digital currencies, associated with the blocked person.”
OFAC does not offer a single solution for compliance, and suggests that the development of individual risk-based compliance program rests with the individual companies, stock exchanges and users of the cryptocurrency. The mechanism of operation of the program is similar to the procedure “Know your customer” (KYC), which involves checking the sanctions list and other appropriate measures. Persons and firms the United States will do to ensure that they are not engaged in transactions prohibited by the sanctions, or illicit trade, and investment operations.
The Treasury says it will apply sanctions to deal with criminal and malicious entities that take advantage of digital currencies to the detriment of society.
“To strengthen efforts to combat illicit use of digital currency transactions, in the framework of its powers, OFAC may include the identifiers to the SDN list a particular address digital currencies associated with blocked persons.”
The document was released directly after the decree of the President of trump dated March 19 imposing a moratorium on cryptocurrency Venezuelan Petro and banning American investors to participate in the initial placement of the coins (ICO) of this cryptocurrency.
Earlier this week, secret documents provided by Edward Snowden showed that the national security Agency USA (NSA) has managed to create a system for tracking and deanonimizatsii users of the cryptocurrency.