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OFAC Continues Focus on Virtual Currency Industry with Announced Settlement with Payward, Inc

USA - November 29 2022 Yesterday, on November 28, 2022, the Office of Foreign Assets Control (OFAC) announced a $362,158.70 settlement agreement with Payward, Inc. (Kraken)…

Jonathan Wang

Bribes, Bitcoin and Obstruction: DOJ Announces Charges Against Chinese Agents for Trying to Impede Investigation of Huawei

China, USA - October 27 2022 On Monday, October 24, 2022, the Department of Justice (DOJ) announced charges against two alleged Chinese intelligence officers for bribing and…

James G. Gatto, Jonathan Wang

OFAC Announces Hefty Settlement with Virtual Currency Exchange / Hosted Wallet Services Provider

USA - October 11 2022 Today, on October 11, 2022, the Office of Foreign Assets Control (OFAC) announced a $24,280,829.20 settlement agreement with Bittrex, Inc., an online…

Jonathan Wang

OFAC Issues Sanctions Compliance Guidance for Instant Payment Systems

USA - October 11 2022 On September 30, 2022, the Office of Foreign Assets Control (OFAC) published compliance guidance for instant payment systems. The guide highlights…

Jonathan Wang, Reid Whitten

DOJ Issues Report on Efforts to Combat Digital Asset Criminal Activity and Announces Designated Prosecutors to Support

USA - September 27 2022 On September 16, the United States Department of Justice (“DOJ”) released a report on the Role of Law Enforcement in Detecting, Investigating, and…

Christopher J. Bosch, Jonathan Wang