U.S. Government Goes After First Person Using Crypto to Evade Sanctions


This month, a U.S. federal judge prosecuted an American citizen who sent over $10 million in Bitcoin to a blacklisted country, in clear violation of sanctions rules.

The U.S. citizen violated the International Emergency Economic Powers Act by sending the virtual assets to a comprehensively sanctioned country, which could be either Cuba, Iran, North Korea, Syria or Russia.

According to the sealed report, the unnamed individual used a crypto exchange in the United States to send over $10 million in Bitcoin to a virtual asset exchange registered in a sanctions-hit country, possibly Russia, Cuba, North Korea, Syria or Iran. The suspect even acknowledged that they were evading sanctions by relying on cryptocurrency instead of traditional payment methods, in clear violation of sanctions.



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