Treasury/OFAC Updates Virtual Currency FAQs

Posted by Matt Schmitt on 12/12/18 5:00 PM

On November 28, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published two new Frequently Asked Questions (FAQs) relating to virtual currency.

The new information provided in the FAQs addresses:

  • How to block digital currency; and

  • Whether an institution may inform a customer that it blocked the customer’s access to digital currency.

The new FAQs may be found here, part of an 8-question series regarding virtual currency:

https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/faq_compliance.aspx#646

Topics: OFAC, Treasury, FAQ

Expeditors' Newsflash articles are compiled from a number of public sources that, to the best of Expeditors' knowledge, are true and correct. It is our intent to present only accurate information. However, in the event any information contained herein is erroneous, Expeditors International of  Washington, Inc. accepts no liability or responsibility.                                                                                           

Copyright © Expeditors International of Washington, Inc.  Expeditors' Newsflash articles may not be reproduced in any form without advanced written consent of an authorized officer of the copyright holder.     

Recommended for you