Tag: OFAC

Whale concentrations in BTC and Tether raising manipulation concerns
August 22, 2019 BY Mariela Naydenova

US Treasury blacklists Chinese crypto addresses under the Kingpin Designation Act

The US Treasury, or more specifically its Office of Foreign Assets Control (OFAC) has recently blacklisted three Chinese residents and their respective crypto accounts. The reason? Smuggling of drugs and money laundering allegations. The three Chinese individuals are the following: Guanghua Zheng,  Xiaobing Yan and Fujing Zheng. All three of them are currently named as narcotics traffickers and…

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September 09, 2014 BY Gerald Segal

Zulutrade fined $150,000 by the CFTC for taking clients from Iran, Sudan and Syria

The CFTC has announced a settlement with social trading giant Zulutrade, whereby Zulutrade will pay a fine of $150,000 and repay commissions earned of $80,000. The settlement involve charges that from 2010 to 2013 Zulutrade failed to follow procedures for screening clients from the U.S. Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) targeted countries.…

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