Specially Designated Nationals, or SDNs, are individuals and entities identified by government agencies, such as the U.S. Treasury’s Office of Foreign Assets Control (OFAC), as posing a threat to national security or foreign policy. These designations result in sanctions, including asset freezes and prohibitions on transactions with them. Financial institutions are legally bound to block funds and report dealings involving SDNs. This list is a critical tool in combating illicit finance.
Context
In cryptocurrency news, Specially Designated Nationals are frequently mentioned in discussions about anti-money laundering (AML) and counter-terrorist financing (CTF) compliance for digital asset businesses. Crypto exchanges and service providers must implement robust screening procedures to prevent transactions with individuals or entities on the SDN list. Regulatory actions against platforms failing to adhere to these sanctions often make headlines. The global push for regulatory compliance impacts the operational landscape for all crypto firms.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
