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Blockchain

Blockchain is a technology used for digital interactions and serves as the underlying component of cryptocurrencies. A blockchain is a distributed ledger maintaining transactional records which are grouped into interconnected blocks. The blocks include unique identifiers based on the data of the previous block. If the data are changed in one block, its identifier changes, which then changes every subsequent block. This effect makes blockchain tamper resistant since the network is difficult to alter, providing a resilient method of record keeping.

Blockchain has potential uses in the transmission of customs data, allowing parties throughout the supply chain to provide data while ensuring the integrity of that data. However, CBP began moving away from blockchain technology specifically in 2021, instead exploring uses of distributed ledger technology in general and placing a focus on interoperability.

 

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DOJ Opens Forfeiture Suit on Funds Meant for North Korea in Crypto Laundering Scheme
June 12, 2025 by Jacob Kopnick|Penalties and Courts

DOJ announced last week that it opened a civil forfeiture action in the U.S. District Court for the District of Columbia against more than $7.74 million allegedly laundered on behalf of the North Korean government. The funds were initially "restrained" as part of an indictment against North Korean banker Sim Hyon Sop, who was allegedly conspiring with North Korean information technology workers who illegally "amassed millions in cryptocurrency" as a means of evading sanctions on North Korea, DOJ said.

OFAC Sanctions FinTech Companies Helping Users Evade Russia Sanctions
March 26, 2024 |Sanctions

The Office of Foreign Assets Control sanctioned 13 entities and two people with ties to Russia’s financial services and technology industries for offering services to evade U.S. sanctions. OFAC said many of the companies operate blockchain-based services that allow virtual currency payments in Russia’s financial sector, “thus enabling potential sanctions evasion.”

Topics:OFAC
Part II: Sanctions Enforcement Actions
January 24, 2024 |White Paper

Behrouz Mokhtari of McLean, Virginia, and Tehran pleaded guilty Jan. 9 to two conspiracies to violate U.S. sanctions on Iran "by engaging in business activities on behalf of Iranian entities" without getting a license from the Treasury Department's Office of Foreign Assets Control, DOJ announced Jan. 9. Mokhtari will forfeit money, property and assets obtained from the schemes, including a Campbell, California, home, and a money judgment of over $2.8 million, DOJ said. The defendant faces a maximum of five years in prison for each of the two conspiracy counts.

Topics:OFAC Sanctions Activity, OFAC, SDN List, Iran Export Controls