Tortola, British Virgin Islands--(Newsfile Corp. - March 26, 2022) - Recently, in response to the US Department of Justice's statement that it will prosecute banks and cryptocurrency exchanges for helping Russians hide their assets, BitWell, the world's leading growth asset trading platform, said that no personal data of users will be provided to the US Department of Justice.
Previously, the US Treasury Department's Office of Foreign Assets Control (OFAC) and the US Department of Justice have made several announcements to restrict the use of cryptocurrencies by wealthy Russians to evade economic sanctions, and have set up relevant investigation units. Not only targeting Russian tycoons, on March 12, the DOJ also said it would prosecute banks and cryptocurrency exchanges that help Russians hide their assets.
"The Department of Justice will use all of its powers to seize the assets of individuals and businesses that violate sanctions," said Attorney General Merrick Garland, "We will spare no effort to investigate, arrest and prosecute these crimes, and will use all tools to freeze and confiscate the proceeds of crime."
OFAC and the US Department of Justice said that cryptocurrency exchanges need to take measures to ensure that Russians cannot make transactions. Any U.S. person, cryptocurrency exchange, cryptocurrency wallet, or other service provider are prohibited from providing services, including digital and traditional assets, to the Russian authorities, the Central Bank...
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