Tag Archives: cryptocurrency

Biden Administration Focus on Cybercrime Continues with Israeli Companies Added to Entity List, New Export Controls, and Cryptocurrency Sanctions

On November 3, 2021, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) added two Israeli entities to the Entity List due to malicious cyber activities. In its press release, BIS stated that the designation of Israeli companies NSO Group and Candiru was based on evidence that these entities developed and supplied spyware to foreign governments, which was then used for malicious surveillance,… More

OFAC Publishes New Guidance for the Virtual Currency Industry

The U.S Department of the Treasury’s Office of Foreign Assets Control (OFAC) has published guidance to aid members of the virtual currency industry (ranging from tech companies to brokers to users) in complying with OFAC requirements. OFAC defines “virtual currency” to encompass non-sovereign, non-fiat currencies that can be used as a store of value or as a medium of exchange—a category inclusive of most cryptocurrencies, including common tokens such as Bitcoin or Ether.… More