The US government redesignated Garantex on Thursday to its list of sanctioned entities, along with its successor, Grinex, but TRM Labs suggests it may be ineffective.
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) sanctioned Garantex a second time, along with its successor, Grinex.
However, TRM Labs 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,” which allow them to quickly migrate clients, infrastructure and funds to successor platforms.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments