New sanctions guidance document for the Virtual Currency Industry has been published

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The Office of Foreign Assets Control (OFAC) has published a guidance document to be used as a resource by the virtual currency industry to navigate and comply with OFAC sanctions.  The guidance provides an overview of OFAC sanctions requirements and procedures, including licensing and enforcement processes, and highlights sanctions compliance best practices tailored for the virtual currency industry. Firms operating in the Cryptocurrency sector should ensure they read this guidance to ensure compliance with OFAC’s sanctions regimes.

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