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John Smith spoke to The Washington Post about the U.S. Treasury Department cracking down on cryptocurrency sanctions, as lawmakers worry that the Russian government and oligarchs could use crypto to evade the international sanctions choking off their access to traditional financial channels.



U.S. Hasn’t Stopped N. Korean Gang From Laundering Its Crypto Haul

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John Smith spoke to The Washington Post about the U.S. Treasury Department cracking down on cryptocurrency sanctions, as lawmakers worry that the Russian government and oligarchs could use crypto to evade the international sanctions choking off their access to traditional financial channels.The Treasury requires U.S. companies to freeze sanctioned accounts as soon as it blacklists them and report they have done so within 10 days, John said, adding that the department can apply stiff penalties to violators even if they didn’t know they were out of compliance, though it tends to focus on more egregious cases.“They go after entities or individuals they think intentionally or recklessly violated sanctions,” John said.Read the <a target="_blank" href="https://www.washingtonpost.com/business/2022/04/23/north-korea-hack-crypto-access/">full article</a> (subscription may be required).