OFAC redesignated a privacy-enhancing virtual currency mixing service that utilizes smart contracts "for its role in enabling malicious cyber activities, which ultimately support the Democratic People’s Republic of Korea's WMD program."
In response to a Treasury request for comment on the use of digital assets in illicit finance activities, SIFMA asserted that traditional financial institutions are well-prepared to manage the risk of digital assets being employed for improper purposes.
In a report prepared for members and committees, the Congressional Research Service reviewed the development of an AML/CFT framework for digital assets.
Coin Center, a cryptocurrency-focused non profit, sued Treasury and OFAC over the decision to designate the virtual currency mixer Tornado Cash on the Specially Designated Nationals and Blocked Persons List.
Treasury issued a Request for Comment on digital asset-related illicit finance and national security risks, as well as its publicly released action plan to address those risks.