sanction

The lower house of the Polish Parliament passed a bill to expand the scope of national sanctions, which intends to allow the Minister of the Interior to freeze cryptocurrency assets without a prior court order. The bill is still pending review by the Senate and approval by the President.

The European Commission decided to establish a dedicated sanctions office during the tenth high-level sanctions measures meeting of the European Union, and to form a cryptocurrency working group within the office, responsible for addressing Russia's use of digital assets to evade sanctions. The working group is expected to operate for 12 months, with support from Ukraine and the United Kingdom.The sanctions office will coordinate member states' implementation of sanctions measures, covering policy design, implementation, enforcement support, and anti-avoidance work. The working group will focus on relevant networks, including the A7A5 digital ruble stablecoin; this stablecoin previously had a trading volume exceeding 100 billion dollars.

The U.S. Department of the Treasury has imposed financial sanctions on eight Canadian currency service companies, stating that these companies have business dealings with sanctioned Iranian entities. The Treasury Department's statement indicated that the aforementioned companies facilitate the exchange of Iranian rials and other currencies and digital assets, enabling them to conduct international transactions. The related sanctions will isolate these companies from the U.S. dollar financial system.The U.S. Treasury stated that these businesses handle transactions for sanctioned Iranian digital asset exchanges and digital asset addresses associated with the Iranian Islamic Revolutionary Guard Corps. Treasury Secretary Scott Bessent stated that Canada cannot become a haven for illegal financial practitioners providing sanction evasion services to the Iranian regime and its proxies, and the Treasury will pursue and cut off financial channels for the Iranian regime globally. This action was coordinated with Canada's financial intelligence agency FINTRAC, as some sanctioned entities have attempted to evade scrutiny by changing their names and addresses.On the same day, the U.S. "Rewards for Justice" program offered a reward of up to $20 million and possible relocation arrangements for information regarding Iran's nuclear program, including its facilities, equipment, and personnel. The statement noted that Iran has not complied with the International Atomic Energy Agency's safeguards oversight, resulting in the agency losing "knowledge continuity" regarding Iran's production of enriched uranium and centrifuge components.

The U.S. Department of the Treasury announced that it will implement a new round of sanctions against 4 individuals and 41 entities associated with the Prince Group's transnational criminal organization. The sanctioned individuals include Qiu Yong, Zhao Mengyao, He Yujing, and Pang Weizhi. Among them, Qiu Yong is accused of representing the Prince Group in controlling multiple companies in the British Virgin Islands and Hong Kong; Zhao Mengyao is Qiu Yong's personal assistant; He Yujing is the wife of Chen Bo, a senior executive of the Prince Group who was previously sanctioned, and Chen Bo had transferred his luxury residence in Tokyo to He Yujing; Pang Weizhi controls 11 companies in Cambodia.The U.S. Department of the Treasury stated that these sanctions aim to combat the Prince Group's actions of hiding assets and evading previous sanctions through offshore companies, nominee arrangements, and affiliated enterprises. In addition, the U.S. also sanctioned a Malaysian individual, Chui Kok Wa, who is suspected of organizing digital asset fraud in Madagascar, with his fraud network reportedly defrauding U.S. victims of over $400,000.

Slow Mist analyzed the cryptocurrency addresses in the U.S. sanctions list and found connections between the relevant individuals through transfers and shared exchange deposit addresses.

According to a report by the Korean News Agency, an official from South Korea's Ministry of Unification stated that the government has not yet begun discussions on whether to impose sanctions due to North Korea's alleged theft of cryptocurrency from Binance. Currently, the South Korean government has not fully grasped the specifics of this hacking incident, and discussions on related responses have not yet been initiated.Previously, the Federal Bureau of Investigation (FBI) identified North Korea as responsible for the theft of over $6 billion in cryptocurrency from Binance, the world's largest cryptocurrency exchange platform. North Korean leader Kim Jong-un's sister, Kim Yo-jong, denied the allegations earlier this week, calling them a "serious political provocation" against North Korea. An official from the Ministry of Unification stated that further information sharing and discussions are still needed within the government.

According to documents from the United States District Court for the Northern District of California, Sun Yuchen and two co-plaintiffs have applied for sanctions against World Liberty Financial and its attorneys, seeking approximately $264,000 in attorney fees and costs. The plaintiffs allege that World Liberty made false disclosures regarding its citizenship in the litigation.The plaintiffs claim that World Liberty initially only disclosed its citizenship in Florida, and nearly three months later supplemented its disclosure to include 22 members in its ownership chain, with citizenship also including places like the UAE. World Liberty's attorneys subsequently argued that, since both parties in the litigation have foreign entities, the federal court lacks jurisdiction.The amount requested involves attorney fees and costs related to the plaintiffs' opposition to mandatory arbitration. The plaintiffs stated in the documents that they would have to refile in California state court; a hearing on the sanctions application is scheduled for December 10.

Sun Yuchen posted on platform X that his lawyer has applied for sanctions against World Liberty Financial (WLFI) because the company disclosed the UAE citizenship of its shareholders months after he filed the lawsuit.Sun Yuchen stated that he signed a token purchase agreement to buy $30 million of WLFI in November 2024, later increasing the total investment to $45 million, and filed a lawsuit against WLFI in April this year, accusing it of fraudulently inducing investment and illegally freezing his tokens. According to his token purchase agreement, the case can be filed in federal or state court in California, and he chose federal court.Sun Yuchen claimed that the disclosure documents submitted by WLFI at the beginning of the case only listed one entity of WLFI, registered in Florida, and then filed a motion for mandatory arbitration; during the August hearing, the court hinted that it did not recognize the arbitration claim and ruled that some demands would remain for public trial. Less than a week later, WLFI suddenly "corrected" the disclosure documents, increasing the number of members in the ownership chain from 1 to 22, and claimed to have citizenship in Florida, Delaware, Puerto Rico, and the UAE, thereby arguing that the federal court has no jurisdiction because both parties have foreign entities.Sun Yuchen pointed out that WLFI claims it "is not an offshore organization," is "a company that pays taxes in the United States," and "when selling tokens, it poses as a U.S. company, only to discover its UAE identity when trying to escape the U.S. federal court." He stated that after the sanctions motion is ruled on in federal court, he will refile the lawsuit in California state court.

According to TRM data, from January 1 to September 7, 2026, the 34 physical casinos in Sihanoukville, Cambodia received approximately $1.07 billion in cryptocurrency. Of this, 64% of the funds flowed to casinos associated with networks sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), and 99.9% of the funds were transferred in the form of USDT on the TRON chain.The monthly inflow of funds averaged $148 million per month from January to May, dropping to about $95 million in July and August, but it did not completely stop. These casinos converted USDT into cash and conducted almost no necessary due diligence on customers.In addition, pawn shops, supermarkets, and exchange counters throughout the city also offer "cryptocurrency to cash" services.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against 10 individuals and 1 entity. These targets are involved in North Korean IT workers defrauding U.S. companies, with the proceeds used for North Korea's weapons of mass destruction and ballistic missile programs.The sanctioned Russian national Ilya Boykov has exchanged approximately 3.5 million dollars in cryptocurrency for the North Korean company Alis since 2024. The Russian national Vitold Obertas has completed nearly 2 million dollars in cryptocurrency exchanges for North Korean officials since January 2025.Also sanctioned is the entity FFTDC, controlled by North Korea and based in Russia, along with its 6 IT workers, who have generated over 750,000 dollars since 2025. Australia and the European Union have also taken similar sanction actions this month.

According to a report by Reuters, Israeli Prime Minister Benjamin Netanyahu has faced criticism from economists and political opponents for suggesting the use of cryptocurrency to help the Israeli economy cope with potential international sanctions.Netanyahu stated in an interview with Israeli Channel 10 last Friday that he is preparing for a scenario in which Israel may face broader sanctions.

Israeli Prime Minister Benjamin Netanyahu stated in a television interview that he is considering using cryptocurrency to evade economic sanctions imposed on Israel by other countries. In response, rival Gadi Eisenkot criticized his policy, stating that it would lead to international isolation and pose a threat to national security.

According to a report by Times of Israel, the Bank of Israel issued a statement on Saturday local time in response to Prime Minister Netanyahu's earlier proposal to use blockchain and cryptocurrency to address potential international banking sanctions, stating that cryptocurrency "cannot be a means to circumvent sanctions."The Bank of Israel stated that the best practice for the Israeli economy is to maintain economic relations with major trading partners and to strive to avoid sanctions and their economic impacts, which is a matter of political responsibility. Additionally, according to ynetnews, officials from the Israeli economic sector stated that they were not aware of the relevant plans.

According to Israeli media i24, Israeli Prime Minister Benjamin Netanyahu is seeking to develop a blockchain-based plan to address potential financial sanctions that Israel may face in the future. Currently, the specific details and implementation plan of the relevant proposal have not been disclosed.

According to The Block, payment company Mastercard has launched the Stablecoin Security tool to screen for fraud and sanction risks in stablecoin payments.This tool is aimed at stablecoin payment scenarios, helping relevant institutions identify fraudulent activities and sanction compliance risks during transaction processing. Mastercard did not disclose more product parameters and launch scope in the summary of the report.

In an executive order, U.S. President Trump stated that, effective immediately, certain sanctions, restrictions, and tariffs specified in the "Graham Sanctions on Russia and Iran Act" are waived.

According to Bloomberg, Bank of America has been fined over $1.21 billion by U.S. regulators for anti-money laundering and sanctions compliance issues. Among them, the Office of the Comptroller of the Currency (OCC) issued a $750 million civil penalty, setting a record for fines related to this agency; the settlement measures from the Office of Foreign Assets Control (OFAC) involve 475 alleged violations of sanctions programs, with related countries including Russia and Iran.Regulators also issued a consent order against the bank.

According to a report by the WSJ, a previously undisclosed internal investigation report from Binance shows that Iranian financier Babak Zanjani used affiliated companies, shell companies, and multiple trading accounts to transfer funds through Binance, establishing a funding channel for the Iranian Islamic Revolutionary Guard Corps (IRGC) to evade Western sanctions. The related network involves 21 individual and corporate trading accounts, with a total trading volume of approximately $850 million, of which at least $67 million flowed from two accounts to wallets associated with the IRGC.The report indicates that Tajik businessman Sukhrob Oimakhmadov, classified as a "high-value customer" by Binance, received over $10 million through his account, with sources including digital wallets later identified by the Israeli Ministry of Defense as belonging to the IRGC. The cryptocurrency platform Zedcex, associated with Zanjani, had a total trading volume close to $830 million, with approximately $56 million withdrawn to related wallets. The network also involves the Turkish payment company ZedPay, as well as the cryptocurrency token USDZ used for trading.Binance stated that it has identified the related activities and taken measures, with all accounts associated with sanction violations being restricted from trading and gradually closed. The company also emphasized that the total trading volume of accounts does not equal the actual funds flowing into the IRGC and acknowledged past procedural issues in internal approvals and execution timeliness. The U.S. Department of the Treasury had previously imposed sanctions on Zanjani and related companies and individuals.