US BRINGS FIRST CRIMINAL CHARGES INVOLVING BITCOIN-BASED SANCTIONS-BUSTING

On 16 May, The Register and others reported that prosecutors have accused a US citizen of illegally funnelling more than $10 million in Bitcoin into an economically sanctioned country. It is alleged that the defendant used a US-based online financial institution account tied to the Payments Platform, a US-based virtual currency exchange and foreign-based virtual currency exchange to transmit over $10 million worth of Bitcoins.

https://www.theregister.com/2022/05/16/judge_cryptocurrency_sanctions/

https://www.natlawreview.com/article/doj-issues-charges-first-criminal-cryptocurrency-sanctions-case

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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