Sanctions | Crypto Profit Bot

ETH developer Virgil Griffith back in jail after allegedly checking Coinbase account

July 21, 2021

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Griffith will likely spend the next two months in jail before his trial in September. 16751 Total views 13 Total shares Ethereum developer Virgil Griffith has violated the terms of his bail and has been taken into custody after he allegedly accessed his cryptocurrency account. The remand order came from U.S. District Judge P. Kevin […]

US sanctions agency OFAC to rely more heavily on Chainalysis

May 28, 2021

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Govt agencies want more tools to trace suspect crypto transactions. 7945 Total views 7 Total shares The U.S. Office of Foreign Assets Control has requested another subscription to Chainalysis analytics software in order to step up its blockchain transaction surveillance efforts. In a public notice sent out on May 26, the agency confirmed its intention […]

Report: Iran may reap upwards of $1 billion in annual Bitcoin mining revenues

May 21, 2021

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The country uses the digital currency to pay for imports and circumvent oil sanctions. 25100 Total views 28 Total shares While Iran’s regulatory relationship with Bitcoin runs hot and cold, a new report from blockchain analytics firm Elliptic indicates that regulated mining activities may be driving upwards of $1 billion in revenues and helping the […]

What Russian journalists can learn from Navalny’s Bitcoin wallet

February 25, 2021

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Alexei Navalny is a noted leader of the Russian opposition. His “Anti-Corruption Foundation” (FBK) has been a thorn in President Vladimir Putin’s side for many years. Though the FBK has been locked out of mainstream politics — much as Navalny has been blocked from running in recent elections — its investigations have managed to garner […]

Another crypto firm hit with fines for violating U.S. sanctions

February 18, 2021

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BitPay apparently screened merchants but not customers. 2312 Total views 10 Total shares BitPay will have to pay the U.S. Treasury’s Office of Foreign Asset Control over half a million dollars for crypto services to sanctioned regions. In a Feb. 18 announcement of the settlement, OFAC said that BitPay had facilitated “approximately $129,000 worth of digital […]

BitGo to Pay $93K to US Treasury to Settle 183 ‘Apparent’ Sanctions Violations

December 30, 2020

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Dec 30, 2020 at 8:57 p.m. UTCUpdated Dec 31, 2020 at 6:55 p.m. UTC BitGo CEO Mike Belshe(CoinDesk archives) BitGo to Pay $93K to US Treasury to Settle 183 ‘Apparent’ Sanctions Violations Crypto custodian BitGo agreed to pay $93,830 in a settlement pact with the U.S. Treasury Department over 183 “apparent violations” of multiple sanctions […]

Virgil Griffith Still Doesn’t Know What Exact Crimes He Is Accused of, Attorneys Say

December 11, 2020

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Dec 11, 2020 at 1:23 p.m. UTCUpdated Dec 11, 2020 at 2:59 p.m. UTC Ethereum developer Virgil Griffith is accused of violating U.S. sanctions law.(CoinDesk archives) Virgil Griffith Still Doesn’t Know What Exact Crimes He Is Accused of, Attorneys Say Attorneys for Ethereum developer Virgil Griffith filed documents over the past week arguing he and […]

US intelligence is looking at Chinese CBDC as a national security threat

November 25, 2020

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The Director of National Intelligence wants to have the SEC’s leader briefed on the dangers of the U.S. falling behind in crypto. 5136 Total views 49 Total shares The United States national security apparatus is warning other agencies about China’s upcoming digital currency. On Wednesday, news outlet the Washington Examiner reported on a letter that […]

Western Union Suspends US Dollar Transfers to Cuba

November 17, 2020

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Nov 17, 2020 at 10:45 a.m. UTCUpdated Nov 17, 2020 at 2:47 p.m. UTC (The Visual Explorer/Shutterstock) Western Union Suspends US Dollar Transfers to Cuba The world’s largest money transfer service, Western Union, is suspending U.S. dollar transfers to Cuba following the latest sanction from the Trump administration. The move means U.S. customers with Cuban […]

Cuba’s exploding crypto interest comes amid an absence of regulation

November 11, 2020

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Cuba is seeing an influx of cryptocurrency activity amid an apparent absence of related regulation in the country, according to senior executives at local crypto firms. In early November, Cuba recorded a major spike in Bitcoin (BTC)-related Google queries, indicating an increase in crypto activity in the country. Founders of major local crypto exchanges Qbita […]

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Category: Sanctions