FinCEN Warns Russia Could Use Crypto Assets To Evade Sanctions

“All financial institutions, including those with visibility into CVC flows, such as CVC trades and executives, must identify and promptly report suspicious activity associated with potential sanction avoidance and provide appropriate risk-based customer due diligence, or advanced due diligence as needed, is critical.”

“Although we do not see widespread evasion of our sanctions using methods such as cryptocurrencies, suspicious activities are promptly It contributes to our national security and our efforts to support Ukraine and its people.”