TechFlow News — The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on Monday against 13 entities and two individuals for facilitating potential sanctions evasion on behalf of Russian nationals through the establishment of cryptocurrency-related services.
OFAC stated in a release that many of the individuals and entities sanctioned on Monday facilitated transactions or provided services enabling other designated entities to evade sanctions.
"Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue funding its war against Ukraine," said Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence.
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