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U.S. Treasury warns crypto industry on preventing sanctions violations By Reuters

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© Reuters.

WASHINGTON, (Reuters) – In an effort to decrease the use crypto currencies for ransomware payments, the U.S. Treasury stated Friday that crypto communities are responsible for making certain they don’t directly or indirectly facilitate transactions that are banned by U.S. sanctions.

Treasury’s new guidance stated that the virtual currency industry includes exchangers, admins, miners, wallet provider, and users. This is to prevent sanctioned individuals from using virtual currencies to bypass sanctions and undermining U.S. security interests.

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