UK Treasury’s Office of Financial Sanctions Implementation updated its sanctions guidance on 30 August to explicitly include “cryptoassets” among those that must be frozen if sanctions are imposed on a person or company.

Crypto exchanges must report suspected sanctions breaches to UK authorities. If they fail to report clients designated for sanctions, they would be committing a criminal offence.

For more information see UK forces crypto exchanges to report suspected sanction breaches

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For over 30 years, Marin Ivezic has been protecting financial services and critical infrastructure against cyber, financial crime, and regulatory risks. He previously held multiple interim CISO, CRO and technology leadership roles in Global 2000 companies. Since 2013 he has been advising institutions and regulators around the world on safe, secure and compliant adoption of crypto assets and other decentralized technologies.