The US Treasury Department’s Office of Foreign Assets Control, or OFAC, has issued a new sanctions list related to Iran that names multiple cryptocurrency exchanges, shell companies and money launderers, according to Techub News. The list does not mention any decentralized protocols.
That omission has drawn attention from at least one expert, who said the silence around decentralized protocols is worth watching. The sanctions are aimed at curbing Iran’s use of cryptocurrency to evade sanctions and finance terrorism, but decentralized finance, or DeFi, protocols were not listed as targets.
The development has sparked discussion over how regulators may approach non-custodial and decentralized entities. The item cited @laurashin as the source of the observation.
The US Treasury Department’s Office of Foreign Assets Control (OFAC) has released a new sanctions list related to Iran, naming multiple cryptocurrency exchanges, shell companies and money launderers, according to Techub News. No decentralized protocols were mentioned.
One expert said that silence on decentralized protocols is worth watching.
The sanctions are intended to curb Iran’s use of cryptocurrency to evade sanctions and finance terrorism, but decentralized finance (DeFi) protocols were not listed as targets. That has prompted discussion over how regulators may deal with non-custodial and decentralized entities.
The item credited @laurashin.
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