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10/15, 4:34 PM (Source: TeleTrader)
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US Treasury issues virtual currency sanctions guide

The United States Treasury published on Friday the so-called Sanctions Compliance Guidance for the Virtual Currency Industry to help members of that industry "navigate and comply" with the institution's Office of Foreign Assets Control's (OFAC) procedures and penalties on the matter.

"Publication of this brochure is in keeping with OFAC's commitment to engage with the virtual currency industry to promote an understanding of, and compliance with, sanctions requirements," the Treasury stated.

The announcement comes shortly after OFAC sanctioned cryptocurrency exchange SUEX OTC over its alleged ties to ransomware attacks.

Breaking the News / JR