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Joshua Ray details the sanctions risks posed by involvement in cryptocurrency

Author: Joshua L. Ray  27 October 2021

The United States is becoming increasingly vocal about the need to regulate cryptocurrency. Rahman Ravelli’s Josh Ray wrote about the need for those involved in crypto to ensure they are not breaching sanctions.

In his piece, published by “The World Financial Review’’, Josh outlines the US Securities and Exchange Commission’s (SEC) intention to tighten federal cryptocurrency regulation and enforcement. He also highlights the stance taken by the US Department of Justice’s (DOJ) Cryptocurrency Enforcement Framework.

The Framework has referred to cryptocurrency as presenting “a troubling new opportunity for individuals and rogue states to avoid international sanctions and to undermine traditional financial markets.” With this in mind, Josh’s article emphasises the need for caution to be exercised by those who accept, safeguard or process cryptocurrency or cryptoassets.

Josh details the process by which the US creates sanctions and who has to comply with them. He also explains the approach taken so far by the authorities to overcome the problems posed by the anonymity that can surround cryptocurrency ownership or possession.

Josh's article can be read on the World Financial Review

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Joshua L. Ray

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joshua.ray@rahmanravelli.co.uk
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Joshua Ray represents individuals and corporates in complex investigations, prosecutions and regulatory actions regarding market manipulation and multijurisdictional matters involving fraud, bribery and money laundering.

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