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OFAC ‘Open’ to Limited Transfers of Digital Currency for Humanitarian Aid

By Daniel Bethencourt

U.S. officials may consider licensing cryptocurrency transfers for humanitarian purposes in Venezuela and other jurisdictions, the head of the U.S. Treasury Department's sanctions branch said. In response to a question about humanitarian assistance to high-risk nations, Office of Foreign Assets Control Director Andrea Gacki said during a Sep. 30 question and answer session at the ACAMS Virtual Las Vegas Conference that the agency has issued general licenses in that area and is also "open to innovative ways of exploring humanitarian aid" through more specific approvals. "We recently worked with the interim government of Venezuela to ensure that there was an...

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