"These updates could clarify, and potentially expand, coverage of new entities in the virtual asset ecosystem that may be operating in areas of actual
“These updates could clarify, and potentially expand, coverage of new entities in the virtual asset ecosystem that may be operating in areas of actual or perceived ambiguity with respect to their [Bank Secrecy Act] obligations,” he wrote. “A final proposal would explicitly provide Treasury’s Office of Foreign Assets Control the authority to deploy secondary sanctions, an impactful and flexible tool, against virtual asset firms doing business with sanctioned entities.”
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