The US Treasury Department issued guidance on using cryptocurrency to evade sanctions

The US Treasury Department today issued guidance on not using cryptocurrency to evade sanctions, which pointed out that cryptocurrency should not be used by Russia to evade the sanctions imposed by the invasion of Ukraine. On the issue of whether the sanctions against Russia extend to cryptocurrency transactions, the contents on the guidance include: Americans, including cryptocurrency exchanges, crypto wallets and other service providers, such as those providing nested services for foreign exchanges, are usually prohibited from participating in or promoting prohibited transactions, including cryptocurrency transactions in which the blocked person has an interest. Americans are also prohibited from participating in or assisting prohibited transactions by non-Americans, including cryptocurrency transactions involving the Central Bank of the Russian Federation, the state wealth fund of the Russian Federation or the Ministry of finance of the Russian Federation. Financial institutions in the United States are also generally prohibited from dealing with transactions involving target financial institutions, including cryptocurrency transactions.