Rumors of the US Treasury Department’s crackdown on multiple financial institutions for money laundering have spread like wildfire on social media and forums. There has been no formal announcement from the US unit and at this point the news is generally considered to be FUD. However, some believe the hearsay came from the recent announcement of Russian sanctions last Thursday. On April 15, the US Treasury Department issued a press release detailing the government’s escalated sanctions against the Russian government. The announcement concerns the use of cryptocurrency addresses for illegal transactions.
U.S. financial rumors flood social media, OFAC cracks down on 16 groups allegedly using crypto assets
In social media and cryptocurrency forums Rumors have spread about the US government take tough action on the crypto industry. For example a Twitter account called “Fxhedge” tweeted through the US Treasury Department on Sunday April 17th.
“The US Treasury Department is said to be charging multiple financial institutions for money laundering using cryptocurrency sources,” the tweet explained. The tweet has been retweeted over 5,000 times since it was published and no one can reply to the tweet. The so-called “sources” are also not mentioned in the tweet, and there is very little information to support the claim.
At the time of going to press, there was no official confirmation of this news, but the rumors spread wildly on Twitter and Reddit. At the time of writing, a large number of crypto advocates consider Treasury Department hearsay to be an FUD.
Meanwhile, some speculators have said the hearsay may have to do with recent U.S. sanctions against the Russian government and some international organizations. The US Treasury Department published a Press release On Thursday afternoon, it was declared that the company and the Office for Foreign Assets Control (OFAC) had cracked down on 16 companies and 16 individuals. The press release stated that these groups and people, led by Russian officials, sought to influence the 2020 US election.
In addition, according to press releases, digital currencies are said to have been used. The US Treasury Department’s announcement reads:
As part of today’s listing of SES on OFAC’s Special Designated Nationals and Blocked Persons List (SDN), OFAC also identifies digital currency addresses that are used by SES to fulfill customer orders, to help financial institutions assist and verify financial institutions Third party identity services to help identify customers on their platforms who have purchased fraudulent identification documents.
“Cryptocurrencies are of particular concern,” says Janet Yellen
As Bitcoin (BTC) and the crypto economy is swelling, some skeptics believe the U.S. government will attack the economy with whatever it can to stop it from growing. Ray Dalio, a billionaire hedge fund manager, recently said there was a good chance the US would do the same thing when it banned gold in 1933. Last Tuesday, Treasury Secretary Janet Yellen spoke about cryptocurrencies and told the Senate Finance Committee and Senator Maggie Hassan she is concerned.
“Cryptocurrencies are a particular concern. I think a lot of them are mostly used for illegal financing, at least in terms of transactions, ”Yellen noted. “[The U.S. government should] Investigate how we can restrict their use and make sure we do [money laundering] does not appear through these channels, ”added Yellen on April 13, 2021.
In addition to the latest press release from the US Treasury Department about the interference of the so-called Russian foreign intelligence service and the Cyberwind attack from solar windsThe Treasury Department’s OFAC published a list of Crypto addresses These authorities believe they are behind these alleged attacks.
Government agencies, experts, and mainstream media have tirelessly tried to tie cryptocurrencies to criminal behavior and illegal transactions. Despite the many reports that show that blockchains are not attractive to criminals and money laundering is far easier with untraceable US dollars.
What do you think of the recent rumors about the actions of the US Treasury Department and the OFAC press release about the use of cryptos by Russian intelligence agencies? Let us know what you think on this matter in the comments section below.
Photo credit: Shutterstock, Pixabay, Wiki Commons, OFAC press release,
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