OFAC added 134 cryptocurrency wallet addresses linked to ISIS-K to its sanctions list. Tether also froze funds associated with the designated addresses.
OFAC added 134 cryptocurrency wallet addresses linked to ISIS-K to its sanctions list. Tether also froze funds associated with the designated addresses.
The action highlights continued scrutiny of cryptocurrency networks used to collect funds for sanctioned groups. It also demonstrates the role stablecoin issuers can play in restricting activity connected to designated addresses.
The US Treasury Department’s Office of Foreign Assets Control added 134 cryptocurrency wallet addresses linked to ISIS-K to its sanctions list. Tether froze funds associated with the designated wallets.
The action highlights continued scrutiny of cryptocurrency networks used to collect funds for sanctioned groups. It also demonstrates the role stablecoin issuers can play in restricting activity connected to designated addresses.
According to Chainalysis, 131 of the listed wallets were on the Tron network. Those addresses received more than $1.4 million in cryptocurrency donations.
The designations expand the compliance information available to crypto companies monitoring transactions for exposure to sanctioned entities. The source material did not specify how much Tether froze or identify the assets held in the affected wallets.
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