Bank AI

Read

The U.S. Treasury sanctioned entities for illegally exporting technology to Iran, including one that developed Iran’s central bank digital currency platform.
The Department of the Treasury’s Office of Foreign Assets Control (<a href="https://crypto.news/tag/ofac/" target="_blank" rel="noopener noreferrer nofollow">OFAC</a>) said in a <a href="https://home.treasury.gov/news/press-releases/jy2095" target="_blank" rel="noopener noreferrer nofollow">press release</a> that on Feb. 14 it imposed <a href="https://crypto.news/tag/sanction/" target="_blank" rel="noopener noreferrer nofollow">sanctions</a> against a network of entities responsible for facilitating the “illegal export of goods and technology from over two dozen U.S. companies to end-users in Iran.”
According to the document, the financial regulator particularly sanctioned Iran-based Informatics Services Corporation (ISC), a subsidiary of the Central Bank of Iran, which recently developed the central bank digital currency (<a href="https://crypto.news/tag/cbdc/" target="_blank" rel="noopener noreferrer nofollow">CBDC</a>) platform for Iran. OFAC says ISC is being sanctioned for having “materially assisted, sponsored, or provided financial, material, or technological support, for, or goods or services to or in support” of the Central Bank of Iran.
You might also like: <a href="https://crypto.news/israel-seized-crypto-worth-millions-of-dollars-from-accounts-linked-to-iran-and-hezbollah/" rel="noopener noreferrer nofollow"> Israel seized crypto worth millions of dollars from accounts linked to Iran and Hezbollah </a>
In addition to ISC, OFAC also imposed sanctions against UAE-based Advance Banking Solution Trading DMCC, which acted as a front company for ISC, the regulator said, adding that the firm “falsely claimed that it was the ultimate end user of the products, concealing their intent to forward the items to Iran from U.S.-based vendors.”
Iran, like many other countries, has been exploring the potential benefits of CBDCs, including facilitating cross-border transactions, reducing transaction costs, and enhancing financial inclusion. As crypto.news <a href="https://crypto.news/iran-cbdc-pilot-nearest-future/" target="_blank" rel="noopener noreferrer nofollow">reported</a>, ISC started working on a digital rial back in 2018 using the <a href="https://crypto.news/tag/hyperledger/" target="_blank" rel="noopener noreferrer nofollow">Hyperledger</a> Fabric, a blockchain framework hosted by the Linux Foundation.
Read more: <a href="https://crypto.news/iran-and-russia-collaborating-to-launch-gold-backed-stablecoin/" rel="noopener noreferrer nofollow"> Iran and Russia collaborating to launch gold-backed stablecoin </a>

OFAC sanctions entities behind Iran’s digital currency program

crypto.news

Ďalšie články zverejnené 15. 2. 2024

Orbs and SYMMIO team up to enhance OTC derivatives trading

Coinbase Stock Rallies 7% Pre-Market, Will Earnings Beat Wall Street Estimates?

Genesis Cleared by Court to Sell GBTC Shares Worth $1.3 Billion

Japan’s Regulators Suggest Banks to Block P2P Crypto Transfers

Top Next Crypto to Explode This Year

Crypto Futures Bleeds $221 Million As Bitcoin Breaks $51,500

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!