Altcoin News by Thebittimes.Com

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has implemented a fifth set of sanctions on Hamas since the October 7 terrorist attack on Israel. In a press release on Jan. 22, the U.S. Treasury Department said it imposed additional sanctions on Hamas in response to the terrorist attack on Israel that occurred in October 2023. The latest sanctions target networks of Hamas-affiliated exchange s in Gaza, their owners, associates, and financial facilitators involved in funds transfers, including crypto transfers, from the Islamic Revolutionary Guard Corps-Qods Force to Hamas and Palestinian Islamic Jihad in Gaza. According to the Treasury, Hamas utilized various methods, including crypto, to transfer funds from Gaza to the West Bank. Herzallah Exchange and General Trading Company LLC (known as Herzallah Exchange), owned by Muhammad Fallah Kamil Hirzallah, Na’im Kamil Raghib Hirzallah, and Salah Kamil Raghib Hirzallah, have been identified as facilitati...

The FSRA announced an update to AML rules, aligning with the crypto travel rule, a regulatory requirement that mandates cryptocurrency service providers to share transaction information. According to a Dec. 21 announcement, the FSRA has recently implemented revisions to enhance clarity regarding requirements outlined in the AML Rulebook. These changes align with the UAE’s federal regulatory framework, reinforcing measures against money laundering, terrorism financing, and proliferation financing while ensuring compliance with targeted financial sanctions .  As per the comprehensive record of amendments, the recent revisions clearly designate digital assets as a recognized payment method, specifying that the payment for any part or all of the sale or purchase amount includes payments using virtual assets as outlined in the document. You might also like: Changpeng Zhao’s UAE return halted by federal court before sentencing These revisions have broad relevance, affectin...