Regulation

Cryptocurrency transactions and sanctions compliance

Issue 19.
December 2021

Author
Pablo LeCourSean RyanBryan HerbertJack Haynie
+ About author

Pablo LeCour is a Principal in Deloitte’s Global Trade Advisory practice in the US.

Sean Ryan is a Principal in Deloitte’s Global Trade Advisory practice in the US (seanryan@deloitte.com).

Bryan Herbert (Senior Consultant) is a member of Deloitte Tax LLP’s US Global Trade Advisory practice group. www.2deloitte.com

Jack Haynie is a Consultant in Deloitte Tax LLP’s Global Trade Advisory Practice. www.2deloitte.com

The dearth of regulatory oversight surrounding cryptocurrencies puts the onus on firms using and enabling these currencies to comply with sanctions.

In recent years, and especially with the Covid-19 pandemic, crypto­currencies have gained traction and, at the same time, some notoriety. These digital commodities have become an increasingly visible part of the economy and have given rise to a host of firms focused on providing infrastructure for facilitating crypto­currency’s use. This rise in...

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