Ben Hutten: Cryptocurrency miners should refuse to provide services to individuals on the OFAC sanctions list

ChainCatcher news, Orrick law firm partner Ben Hutten stated that U.S. regulators have been paying attention to cryptocurrencies, and even though miners are not currently the focus, they have reason to remain cautious. If miners provide services to individuals on the Office of Foreign Assets Control (OFAC) sanctions list, OFAC may view this as substantial support for sanctioned individuals, which could serve as a basis for imposing sanctions on service providers.

CoinShares Bitcoin research director Christopher Bendiksen also agreed with this view, stating that he believes some miners will eventually start reviewing transactions related to addresses on the OFAC list, "this will become a cost of doing business in the West."