USA government could include wallet numbers of sanctioned individuals in the OFAC lists, according to an update of the Office of Foreign Assets Control FAQ named “Questions on Virtual Currency”, published recently on their web page.
According to the said update, all cryptocurrencies holdings would be considered the same as digital fiat money; and thus wallet numbers could also be considered the same as bank accounts. This measure is taken directly after the US government prohibits US citizens, and all people inside US borders to trade with Venezuelan cryptocurrencies; a symbolic measure, because Venezuela does not require enforcing of KYC (Know Your Customer) policies to trade cryptocurrencies. Still, it is an interesting development because it means that the US government will consider cryptocurrencies like normal fiduciary money.
The update on their FAQ states:
Virtual currency is a digital representation of value that functions as (i) a medium of exchange; (ii) a unit of account; and/or (iii) a store of value; is neither issued nor guaranteed by any jurisdiction; and does not have legal tender status in any jurisdiction.
Digital currency includes sovereign cryptocurrency, virtual currency (non-fiat), and a digital representation of fiat currency
This could be an amendment seeking to pursue individuals from Venezuela making trades and circumventing sanctions using cryptocurrencies like the Petro, or other altcoins. The Petro crypto coin was created by Venezuela as a national official cryptocurrency, but experts said that it was more like a digital bond for avoiding US sanctions for key individuals of the Venezuelan Government.
The article also states that all cryptocurrency wallets from altcoins can be included in the sanctions lists, and it mentions Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Neo (NEO), Dash (DASH), Ripple (XRP), Iota (MIOTA), Monero (XMR), and Petro (PTR). We will see how all this unfolds and what the implications of these new considerations will affect sanctioned countries.