The Office of Financial Sanctions Implementation (OFSI) updated its General guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018. The updated guidance outlines obligations under financial sanctions as well as OFSI’s approach to licensing and compliance issues. It also takes into account crypto firms are now required to immediately report sanctions breaches and freeze the assets involved or else face financial penalties or criminal charges.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1100991/General_Guidance_-_UK_Financial_Sanctions__Aug_2022_.pdf

 

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