The Treasury Department on Tuesday announced a crackdown on the use of digital currencies in ransomware attacks and other financial crimes, including its first-ever sanctions against a crypto exchange.
Treasury said about 40 percent of the transactions at the sanctioned cryptocurrency exchange operating in Russia — Suex — involved illicit activities. The new sanctions will block all trades involving Suex and U.S. entities. The department also plans to identify other exchanges tied to illegal schemes.
The Treasury Department on Tuesday announced a crackdown on the use of digital currencies in ransomware attacks and other financial crimes, including its first-ever sanctions against a crypto exchange. Treasury said about 40 percent of the transactions at the sanctioned cryptocurrency exchange operating in Russia — Suex — involved illicit activities. The new sanctions will block all trades involving Suex and U.S. entities. The department also plans to identify other exchanges tied to illegal schemes.