The U.S. OFAC sanctions 13 entities that help Russia evade sanctions through cryptocurrency

ChainCatcher news, according to The Block, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned 13 entities and two individuals on Monday for facilitating Russian nationals in evading sanctions by establishing services related to cryptocurrency.

OFAC stated in a press release that many of the individuals and entities sanctioned on Monday facilitated transactions or provided services to help other designated entities evade sanctions. The statement emphasized that the Treasury will continue to expose and disrupt those companies attempting to assist sanctioned Russian financial institutions in reconnecting with the global financial system.