Cryptocurrency exchange Garantex Europe, which was sanctioned on Thursday, may already have a contingency plan allowing it to skirt the impact of the US actions, blockchain intelligence firm TRM Labs said.
On Thursday, the US Treasury’s Office of Foreign Assets Control (OFAC) data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/us-treasury-ofac-sanctions-garantex-europe” title=”null”>sanctioned Garantex a second time, along with its successor, Grinex.
However, TRM Labs data-ct-non-breakable=”null” href=”https://www.trmlabs.com/resources/blog/garantex-grinex-and-the-a7a5-token-a-deep-dive-into-sanctions-evasion-networks” rel=”noopener nofollow” target=”_blank” title=”null”>said in a report on Thursday that the sanctions may be ineffective, as entities like Garantex “appear to prepare contingency plans well in advance of anticipated enforcement measures,”…
