OFAC FAQ (Current) # 1079 - Cyber-related Sanctions (PDF contains all versions)

Date issued: Nov. 08 2022

Last substantive commentary amendment:
Aug. 19 2023

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TURBOFAC Commentary (154 words)

Notes:

[11-29-24 Update - see Joseph Van Loon et al v. Department of the Treasury et al. (2024, 5th Cir.), and comments thereto. This FAQ is likely to be removed or amended at some point in the future; the below has not yet been amended in light of the 5th Circuit opinion.]

1) This FAQ contains a notable implicit "extinction of interest" determination, i.e. that Tornado Cash does not have an "interest" in virtual currency that passed through it prior to the designation (but contrast FAQ # 1078).

2) FAQ amended on 11-8-22 to change "U.S. persons should be prepared to provide, at a minimum" to "Applicants should be prepared to provide, at a minimum". This is probably due to U.S. persons cryptocurrency exchanges holding property on behalf of non-U.S. persons, where in many cases the...