OFAC targets Kyrgyzstan-based firms, stablecoins over Russian sanctions violations
The U.S. Treasury’s Office of Foreign Assets Control sanctioned multiple companies and individuals accused of using stablecoins to help Russia skirt international sanctions tied to its war in Ukraine on Aug. 14. The designations target both Russian-linked businesses and foreign intermediaries alleged to have facilitated large-scale cross-border transactions for sanctioned entities. The move highlights OFAC’s …
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