The US has published a guide to the use of crypto to avoid sanctions.
The US Treasury Department released a guide on Friday explaining how cryptocurrencies should not be used to avoid sanctions. As it is known, cryptocurrencies came to the fore as an important means of escaping the sanctions imposed after Russia’s invasion of Ukraine. The guide included the following statements:
“U.S. persons, including other service providers such as virtual currency exchanges, virtual wallet hosts, and those providing nested services for exchanges, have a virtual They are generally prohibited from participating in or facilitating prohibited transactions, including money transactions.”
It was also noted that US persons are prohibited from interacting with prohibited transactions by non-US persons. In addition, US financial institutions are prohibited from carrying out transactions involving targeted financial institutions.
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