Overview
Steptoe partners Evan Abrams and Andrew Adams and associate Scott Johnston authored a chapter in Global Legal Insights' "Blockchain & Cryptocurrency Laws and Regulations 2027" titled "OFAC Sanctions and Digital Assets: Regulation, Compliance, and Recent Developments." They discuss how US sanctions regulators and prosecutors are increasingly focused on the digital asset industry, making clear that the US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctions apply to cryptocurrencies, exchanges, wallets, and other blockchain-based activities just as they do to traditional financial transactions. Recent enforcement actions and guidance underscore the growing importance of robust sanctions compliance programs, blockchain monitoring, know-your-customer controls, and risk management as regulators continue to target sanctions evasion, ransomware activity, illicit finance, and other misuse of digital assets.
Click to read a PDF of the article or visit Global Legal Insights.
