Bitcoin
Bitcoin (BTC)
$68,073.00 1.39228
Bitcoin price
Ethereum
Ethereum (ETH)
$3,530.91 0.32978
Ethereum price
BNB
BNB (BNB)
$601.47 1.15952
BNB price
Solana
Solana (SOL)
$183.46 5.42005
Solana price
XRP
XRP (XRP)
$0.5998030 0.56569
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 0.91435
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 2.71865
Pepe price
Bonk
Bonk (BONK)
$0.0000332 7.44217
Bonk price
Bitcoin
Bitcoin (BTC)
$68,073.00 1.39228
Bitcoin price
Ethereum
Ethereum (ETH)
$3,530.91 0.32978
Ethereum price
BNB
BNB (BNB)
$601.47 1.15952
BNB price
Solana
Solana (SOL)
$183.46 5.42005
Solana price
XRP
XRP (XRP)
$0.5998030 0.56569
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 0.91435
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 2.71865
Pepe price
Bonk
Bonk (BONK)
$0.0000332 7.44217
Bonk price
Bitcoin
Bitcoin (BTC)
$68,073.00 1.39228
Bitcoin price
Ethereum
Ethereum (ETH)
$3,530.91 0.32978
Ethereum price
BNB
BNB (BNB)
$601.47 1.15952
BNB price
Solana
Solana (SOL)
$183.46 5.42005
Solana price
XRP
XRP (XRP)
$0.5998030 0.56569
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 0.91435
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 2.71865
Pepe price
Bonk
Bonk (BONK)
$0.0000332 7.44217
Bonk price
Bitcoin
Bitcoin (BTC)
$68,073.00 1.39228
Bitcoin price
Ethereum
Ethereum (ETH)
$3,530.91 0.32978
Ethereum price
BNB
BNB (BNB)
$601.47 1.15952
BNB price
Solana
Solana (SOL)
$183.46 5.42005
Solana price
XRP
XRP (XRP)
$0.5998030 0.56569
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 0.91435
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 2.71865
Pepe price
Bonk
Bonk (BONK)
$0.0000332 7.44217
Bonk price

WalletConnect complies with OFAC sanctions, geo-blocks Russia and parts of Ukraine

walletconnect-complies-with-ofac-sanctions-geo-blocks-russia-and-parts-of-ukraine
Edited by
News
WalletConnect complies with OFAC sanctions, geo-blocks Russia and parts of Ukraine

The web3 protocol said its decision followed legal guidance from the U.S. Treasury while debunking unverified reports of restrictions on non-sanctioned countries.

Wallet Connect announced an update to which regions can access its open-source protocol used for linking blockchain wallets to decentralized apps. Russian users have been geo-blocked from the platform in line with sanctions from the Office of Foreign Assets Control  (OFAC).

The sanction came into effect on Oct. 30 and that led to restrictions on two countries – Russia and certain areas of Ukraine. Ukrainian users in other parts of the country were temporarily affected but service was subsequently restored, according to Wallet Connect’s team.

Reports making the rounds prior to the announcement said Wallet Connect also blocked a number of non-sanctioned countries. The protocol refuted such claims and apologized to general users for possible inconveniences. 

U.S. sanctions have cracked down on crypto gateways in Russia and the Middle East amid ongoing geopolitical tension between nations. The Department of Treasury and U.S. policymakers look to implement legislation they say would combat terror and war financing via digital assets. 

The Financial Crimes Enforcement Network (FinCEN) submitted new laws for consideration to boost oversight on crypto mixing services. Senator Elizabeth Warren also marshaled 20 percent of Congress to push new laws targeting crypto terror fundraising. 

Warren’s sole citation for her letter came from a Wall Street Journal article on Hamas and crypto, which has since been debunked by multiple blockchain data providers, such as Elliptic and Chainlysis.