The US Treasury Department recently sanctioned eight cryptocurrency wallet addresses associated with Garantex and the Houthis as a result of significant illegal fund transfers tied to Houthi activities.
Experts suggest that this move signifies a growing recognition of the implications of crypto in geopolitical conflicts, necessitating faster adaptation of compliance frameworks.
The Houthis, known for their militia activities, have been designated a foreign terrorist organization, prompting increased scrutiny of crypto’s role in their operational funding.
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