regulation ·
US Sanctions 45 More Targets Linked to Prince Group Crypto Scam Empire
The Office of Foreign Assets Control (OFAC) has designated forty-five additional entities and individuals connected to the Prince Group, which is alleged to be involved in a cryptocurrency scam…
The Office of Foreign Assets Control (OFAC) has designated forty-five additional entities and individuals connected to the Prince Group, which is alleged to be involved in a cryptocurrency scam operation. These new sanctions target offshore corporations and their associates, according to OFAC, because they were instrumental in enabling Prince Group executives to conceal their wealth and circumvent prior restrictions.
This action by OFAC signifies a continued regulatory focus on tracing and penalizing the financial structures utilized by actors involved in illicit digital asset schemes.
Earlier coverage
Reported by Decrypt.
Topics: regulation.
