What is OFAC enforcement for crypto?

OFAC crypto enforcement has grown from a handful of actions in 2020 to a mature program with over $1.4 billion in total penalties. Enforcement targets exchanges, mixers, wallet providers, and individual wallet addresses designated on the SDN list.

Enforcement categories

• Exchange designations: SUEX, Chatex, Garantex — exchanges designated for facilitating illicit transactions.
• Mixer sanctions: Tornado Cash, Blender.io, Sinbad — mixers designated for money laundering.
• Civil penalties: Binance ($968M), Bittrex ($29M), Coinbase, Kraken, BitGo, BitPay — penalties for processing transactions involving sanctioned parties.
• Wallet designations: 947 individual crypto wallet addresses on the SDN list.

See the full enforcement timeline at /blog/crypto-sanctions-enforcement-timeline.