It’s not just the U.S. Immigration and Customs Enforcement agency watching the crypto accounts of criminals.
Beau Barnes and Jake Chervinsky, defense attorneys at Kobre & Kim specializing in disputes related to digital assets, said that for the past two months the Treasury Department’s Office of Foreign Assets Control (OFAC) has been on the case.
Just in the last week, they wrote in an article for CoinDesk, OFAC sanctioned two Iranian individuals for cyberattacks against U.S. networks. For the first time, OFAC targeted both the individuals doing the attacking and their associated bitcoin (BTC) addresses.
Iran is not the only sanctioned country that got OFAC’s attention, they wrote. In March, OFAC responded to the Venezuelan government’s launch of its petro cryptocurrency by prohibiting U.S. persons from engaging in transactions with that asset. OFAC also issued warnings that you can’t do business with a sanctioned country “regardless of whether a transaction is denominated in a digital currency or traditional fiat currency.” Read more here.