US Treasury unleashes cryptocurrency sanctions to fight ransomware


Source: scmp.com scmp.com

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This story is published in a content partnership with POLITICO. It was originally reported by Sam Sabin and Victoria Guida on politico.com on September 21, 2021. The US Treasury Department on Tuesday announced a crackdown on the use of digital currencies in ransomware attacks and other financial crimes, including its first-ever sanctions against a crypto exchange. Treasury said about 40 per cent of the transactions at the sanctioned cryptocurrency exchange operating in Russia – Suex – involved illicit activities. The new sanctions will block all trades involving Suex and US entities. The department also plans to identify other exchanges tied...