OFAC publishes sanctions guidance for virtual currency industry

Following the September 2021 designation of SUEX OTC, S.R.O., the first virtual currency exchange to be sanctioned by the US, OFAC has published its ‘Sanctions Compliance Guidance for the Virtual Currency Industry’ (also available on the USA Guidance section of this...

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2020/2021 Annual Review of UK sanctions

HM Treasury’s Office of Financial Sanctions Implementation (OFSI) has published its 2020/2021 Annual Review. See previous post for the 2019/2020 review.  The review talks about the changes to UK sanctions as a result of the UK leaving the EU. The Report says: At...

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BIS settlement with VTA Telecom Corporation

The US Department of Commerce’s Bureau of Industry and Security (BIS) has agreed an administrative settlement of $1,869,372 with California-based company VTA Telecom Corporation (VTA), to resolve allegations that it committed 6 violations of the Export Administration...

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