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Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539

Rahman Ravelli details the sanctions risks posed by involvement in cryptocurrency

Author: Syedur Rahman  27 October 2021

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

In their piece, published by “The World Financial Review’’, Rahman Ravelli outlines the US Securities and Exchange Commission’s (SEC) intention to tighten federal cryptocurrency regulation and enforcement. They also highlight 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, their article emphasises the need for caution to be exercised by those who accept, safeguard or process cryptocurrency or cryptoassets.

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

The article can be read on the World Financial Review

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Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.

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