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The definition of a cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Cryptocurrencies are built on top of distributed ledger technology, blockchain — which allows it to be decentralized and immune to government control and interference. Transactions involving cryptocurrencies involve public and private keys, enabling minimal processing fees, allowing users to be able to make transfers without traditional third-party institutions.

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OFAC Sanctions Russian Exchange Cryptex and Facilitator UAPS, FinCEN Targets PM2BTC

The U.S. Treasury's OFAC designates Russian exchange Cryptex and facilitator UAPS, while FinCEN names PM2BTC a primary money laundering concern.

by Terrill Dicki
Sep 27, 2024

CRYPTOCURRENCY

OFAC Sanctions Russian Exchange Cryptex and Facilitator UAPS, FinCEN Targets PM2BTC

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