OFAC Escalates Russian Sanctions List Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread – Bitcoin Regulatory News


Rumors of the US Treasury cracking down on various financial institutions for money laundering are spreading like wildfire on social media and forums. There is no formal announcement from the US entity and at this stage the news is widely considered FUD. However, some believe the rumors stem from the recent announcement of Russian sanctions last Thursday. On April 15, the US Treasury Department issued a press release explaining the government’s sanctions against the Russian government, and the announcement relates to the use of cryptocurrency addresses for illegal transactions.

US Treasury Rumors Flood Social Media, OFAC Breaks Down On 16 Groups Allegedly Using Crypto Assets

On social media and cryptocurrency forums, rumors have been circulating about the US government cracking down on the crypto industry. For example a Twitter account called ‘Fxhedge’ tweeted on the US Treasury on Sunday, April 17.

“The US Treasury must accuse several financial institutions of laundering money using cryptocurrencies sources,” the tweet said. The tweet has been retweeted more than 5000 times since its publication and no one can reply to the tweet. The so-called “sources” are also not mentioned in the tweet, and there is very little information to support the claim.

OFAC Escalates Russian Sanctions Lists With Bitcoin Addresses, Spreading Rumors Of US Treasury Crypto Crackdown

There is no official confirmation of this news at press time, but the rumors are spreading wildly on Twitter and Reddit. At the time of publication, a large number of crypto advocates consider the rumors of the Treasury crackdown to be FUD.

OFAC Escalates Russian Sanctions Lists With Bitcoin Addresses, Spreading Rumors Of US Treasury Crypto Crackdown

Meanwhile, some speculators have said the rumors may be related to recent US sanctions on the Russian government and a few international organizations. The U.S. Treasury Department issued a press release Thursday afternoon explaining that the entity and the Office of Foreign Assets Control (OFAC) had cracked down on 16 entities and 16 individuals. The press release says these groups and people led by Russian officials were trying to influence the 2020 US elections.

In addition, according to the press releases, digital currency would have been used. The announcement from the US Treasury reads:

As part of SES’s current listing on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List), OFAC also identifies digital currency addresses used by SES to execute customer orders to assist financial institutions, and their third-party identity verification services, in identifying customers on their platforms who have purchased fraudulent identity documents.

“Cryptocurrencies are a particular concern,” says Janet Yellen

As bitcoin (BTC) and the crypto economy swell, some skeptics think the US government will attack the economy with anything it can do to prevent it from growing. Billionaire hedge fund manager Ray Dalio said recently that the US would likely do this, similar to when it banned gold in 1933. Last Tuesday, Janet Yellen, head of the Treasury Department, spoke about cryptocurrencies and told the Senate Finance Committee and Senator Maggie Hassan. she is concerned.

“Cryptocurrencies are a particular concern. I think many are used – at least in the sense of transactions – primarily for illegal financing, ”Yellen noted.[The U.S. government should] explore ways in which we can limit and ensure its use [money laundering] is not happening through those channels, ”Yellen added on April 13, 2021.

OFAC Escalates Russian Sanctions Lists With Bitcoin Addresses, Spreading Rumors Of US Treasury Crypto Crackdown
OFAC’s crypto address list shows BTC, ETH, LTC and BCH addresses.

In addition to the recent press release from the U.S. Treasury Department on alleged Russian foreign intelligence meddling and Solarwinds’ cyberattack, the Treasury Department’s OFAC published a list of crypto addresses that authorities believe are behind these apparent attacks. .

Government agencies, experts and mainstream media have relentlessly tried to link cryptocurrencies to criminal behavior and illegal transactions. Despite the many reports showing that blockchains are not attractive to criminals, money laundering is much easier with untraceable US dollars.

What do you think about the recent US Treasury crackdown rumors and OFAC press release on Russian intelligence using cryptos? Let us know what you think about this topic in the comments section below.

Tags in this story

Bitcoin, Bitcoin (BTC), Crypto Addresses, FUD, Fxhedge Tweet, Hearsay, Illegal Financing, Janet Yellen, Joe Biden, Maggie Hassan, OFAC, OFAC List, Office of Foreign Assets Control, Ray Dalio, Reddit, Regulators, Rumors , Twitter, US Treasury

Image Credits: Shutterstock, Pixabay, Wiki Commons, OFAC Press Release,

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