Crypto miners should refuse services to those on OFAC sanctions list

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Cointime2023/12/26 11:36

By:Cointime

Ben Hutten, a partner at Orrick Law Firm, stated that US regulators have been paying attention to cryptocurrencies, and even though miners are not currently a focus of attention, they have reason to be cautious. If miners provide services to individuals on the Office of Foreign Assets Control (OFAC) sanctions list, OFAC may consider it as substantial support for the sanctioned individuals and may become a basis for imposing sanctions on the service provider. Christopher Bendiksen, head of Bitcoin research at CoinShares, also agrees with this view and believes that some miners will eventually start reviewing transactions related to addresses on the OFAC list, which will become a cost of doing business for them in the West.

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