Latest news with #OFAC
Barnama
13-06-2025
- Business
- Barnama
Bitget Opens Doors For Syrian Users Enabling Full-Service Suite Of Products
VICTORIA, Seychelles, June 13 (Bernama) -- Bitget, the leading cryptocurrency exchange and Web3 company, has now enabled onboarding of Syrian citizens on the platform. This comes following the recent suspension of OFAC sanctions. Syrian citizens and residents can now register on the platform, complete identity verification, and access the full suite of services—ranging from P2P and spot trading to futures and yield-generating products. This update holds particular significance for a country that has faced prolonged conflict, economic isolation, and limited access to reliable financial systems. In the absence of stable banking infrastructure, crypto has strong real-life use cases, as a tool for survival, growth, and connectivity to the broader world. The adoption of crypto in Syria shows a deeper truth about the role of crypto in places where traditional systems have failed or aren't accessible either.
Business Insider
12-06-2025
- Business
- Business Insider
Bitget Opens Doors for Syrian Users Enabling Full-Service Suite of Products
Victoria, Seychelles, June 12th, 2025, Chainwire Bitget, the leading cryptocurrency exchange and Web3 company, has now enabled the onboarding of Syrian citizens on the platform. This comes following the recent suspension of OFAC sanctions. Syrian citizens and residents can now register on the platform, complete identity verification, and access the full suite of services—ranging from P2P and spot trading to futures and yield-generating products. This update holds particular significance for a country that has faced prolonged conflict, economic isolation, and limited access to reliable financial systems. In the absence of a stable banking infrastructure, crypto has strong real-life use cases, as a tool for survival, growth, and connectivity to the broader world. The adoption of crypto in Syria shows a deeper truth about the role of crypto in places where traditional systems have failed or aren't accessible either. With this, Syrian users now have access to all major Bitget features, including peer-to-peer (P2P) trading with local currency support, spot and futures markets, copy trading, and Bitget Earn products that enable passive income on crypto holdings. The mobile app and web platform also offer multi-language support and 24/7 security monitoring to ensure safe transactions. Educational content, trading tools, and customer assistance are readily available to guide new users at every step. Bitget's decision to welcome Syrian users stems from a focused strategy to support real use cases in regions where crypto is vital. The inclusion of Syria signals intent to enable access where it is most urgently needed. 'At Bitget, the priority is clear—reach those who need crypto the most. Our platform is built to serve individuals navigating unstable economies, restricted banking, or political uncertainty. Extending access to Syrian users is part of a larger effort to deliver impactful financial tools where they make the greatest difference," said Gracy Chen, CEO at Bitget. Bitget remains focused on expanding access in regions where crypto plays a critical role in everyday life. For Syrian users, Bitget will play an important role in actively maintaining safe, efficient, and user-friendly channels for participation in crypto. Resources will be allocated to support regional engagement, improve accessibility, and ensure users in Syria are equipped to navigate the cryptospace with industry-leading products and best-in-class tools. Effective immediately, Syrian users can now begin their journey with full platform functionality. To sign up, users can visit here. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
Time of India
11-06-2025
- Business
- Time of India
US Secretary Rubio targets Harvard over potential sanctions breach at China conference; NYT reports
US Secretary of State Marco Rubio has called for a Treasury Department investigation into Harvard University 's alleged sanctions violations linked to a health conference held in China. The request, which experts call highly unusual, comes amid the Trump administration 's wider campaign to increase scrutiny on the Ivy League school's global partnerships, as per a report by The New York Times. According to the NYT report, Rubio signed a recommendation last month urging the Treasury's Office of Foreign Assets Control (OFAC) to examine whether Harvard's collaboration with Chinese officials—some from a blacklisted entity—violated federal law. The case centers on a long-running program called the 'Training Course on Health Financing,' held jointly by Harvard, the World Bank, and China's National Health Insurance Administration. Since 2019, it has hosted officials from the Xinjiang Production and Construction Corps (X.P.C.C.), a group sanctioned by the U.S. in 2020 for human rights violations against Uyghurs and other minorities in China. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Archived versions of a Harvard webpage list the X.P.C.C. among participants, though the university later removed those mentions. A Chinese government site showed the Corps still attended as recently as 2023. (Join our ETNRI WhatsApp channel for all the latest updates) Rubio's action marks a rare case of a cabinet secretary targeting a domestic institution for sanctions enforcement. John Smith, a former OFAC director, told The Times, 'I wouldn't say it's wrong or improper-I would just say it's unusual and not the usual course of business.' Live Events You Might Also Like: US resumes visa processing for Harvard students after court blocks Trump's policy ban The sanctions push is part of broader efforts by the Trump administration to pressure Harvard. The university has already lost nearly $3.7 billion in federal research grants since filing a lawsuit in April that accused the government of politically motivated interference. Trump allies have shifted focus from antisemitism concerns on campus to alleged foreign ties. On May 15, Senator Tom Cotton cited a report from Strategy Risks—funded by conservative think tank Manhattan Institute—calling for an investigation. Days later, the Department of Homeland Security stated Harvard had 'hosted and trained' members of the X.P.C.C. The Treasury and State Departments declined to comment on the probe. Harvard is reportedly conducting an internal review, but details remain undisclosed. A Harvard spokesperson declined to comment. Meanwhile, Education Secretary Linda McMahon defended the administration's actions. At a recent event, she said, 'We're pleased to see that,' referring to the replacement of faculty at Harvard's Center for Middle Eastern Studies. You Might Also Like: Now, lack of a social media profile could prompt US visa denial The Trump administration has also moved to revoke international student visas and continues to investigate Harvard through multiple federal agencies. Isaac Stone Fish, CEO of Strategy Risks, said his report 'should not be read as a blanket condemnation' of Harvard. However, he added, 'The X.P.C.C. is one of the world's most notorious organizations.' You Might Also Like: US to revoke visas of Chinese students linked to Chinese Communist Party or critical fields, Marco Rubio announces
New York Times
11-06-2025
- Business
- New York Times
Rubio Is Pressing to Open Sanctions Investigation Into Harvard
Secretary of State Marco Rubio is pushing to investigate whether Harvard University violated federal sanctions by collaborating on a health insurance conference in China that may have included officials blacklisted by the U.S. government, according to people familiar with the matter and documents reviewed by The New York Times. Mr. Rubio signed off on a recommendation to the Treasury Department last month to open an investigation, which experts and former Treasury officials said was an unusual attempt from a cabinet secretary to target a domestic entity for sanctions enforcement. Whether the agency within the Treasury that handles sanctions, the Office of Foreign Assets Control, opened an investigation in response was unclear — but such a move could expose Harvard to significant legal risks. Mr. Rubio's action is the latest example of the Trump administration's whole-of-government approach to bringing the Ivy League university to heel. President Trump has sought for months to impose his political agenda on Harvard by reshaping its curriculum, admissions and hiring processes. The effort initially relied primarily on accusations that university officials had not done enough to address antisemitism on campus. In recent weeks, however, the administration's focus has expanded to other issues, including allegations about Harvard's foreign ties, particularly to China. A potential sanctions investigation demonstrates how Harvard's problems with the government extend far beyond questions of whether the school will continue receiving federal funding. Mr. Trump and his allies appear determined to upend nearly all aspects of the institution, which has long symbolized the pinnacle of higher learning in the country and attracted influential scholars from around the globe. A spokesman for the Treasury Department declined to comment on a possible or pending sanctions investigation. A State Department spokeswoman also declined to comment. Want all of The Times? Subscribe.
Yahoo
09-06-2025
- Business
- Yahoo
Labor group issues warning about largely unregulated ‘dark fleet'
WASHINGTON — A group representing maritime shipping labor is warning regulators about rising economic and safety risks caused by foreign flags-of-convenience (FOC) ship registries. Responding to an informal investigation launched in April by the Federal Maritime Commission, the Seafarers International Union (SIU) told the FMC that FOC registries – those that register and flag vessels with significantly less regulatory oversight than other registries – are enabling the expansion of the so-called 'dark fleet,' a network of vessels operating outside virtually all regulatory oversight. 'These ships routinely evade sanctions, safety protocols, and environmental regulations by exploiting permissive flag states and obscured ownership structures,' stated SIU President David Heindel in comments filed with the FMC. He cited analyses from Lloyds List and others that show the dark fleet now comprising 600 to 1,000 vessels. 'We commend the FMC for taking this essential step toward exposing and addressing systemic abuses in vessel flagging – and urge the broader maritime community and international regulators to take coordinated action to restore integrity to global shipping.' In April, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued an update to a 2019 advisory to help the global shipping and maritime industry identify sanctions evasions related to the shipment of Iranian-origin petroleum and petroleum products. The new advisory noted how 'shadow fleet' tankers rely on flag registries with lower operating and due diligence standards. According to OFAC, these tankers regularly: Move their registrations to flag states known to be providing services to other sanctioned tankers. Illegitimately claim to fly a flag they are not registered with (i.e., a 'false' flag). Flag vessels with registries not authorized to provide flagging services (i.e., fraudulent registries). 'Maritime sector stakeholders should consider the flag registry and registration history of a vessel and conduct enhanced due diligence to ensure vessels with which they and their counterparties engage are not participating in trade of Iranian petroleum, petroleum products, or petrochemicals,' OFAC stated. The International Transport Workers' Federation (ITF), with which SIU is affiliated, contends that the FOC system has been the subject of the group's longest-running campaign – launched in 1948 – 'due to its role in circumventing labor regulations, suppressing wages, and enabling unsafe working conditions,' the group stated in May. Data compiled by ITF currently lists 45 FOC registries. SIU, which represents U.S. vessel crews assigned to U.S.-flag vessels trading domestically and internationally, told FMC that the ability to suppress wages and creating unsafe working conditions for seafarers leads to unfair competitive advantages for shipowners, who can circumvent labor protections and fair wage requirements and evade taxation and financial responsibilities. 'Responsible shipowners who maintain high standards are undercut by FOC vessels operating with substandard conditions, creating a 'race to the bottom' that undermines the entire maritime industry,' SIU asserted. It recommended that FMC's investigation 'examine how FOC practices distort fair competition and consider measures to level the playing field for operators maintaining proper standards.' SIU also cited ITF data showing that FOC ships are 'significantly overrepresented' in vessel detentions, maritime casualties and incidents, vessels operating with expired or counterfeit certificates, and vessels with inadequate maintenance and safety equipment. The group recommended that FMC analyze flag state casualty data 'and examine correlation between FOC registration and safety deficiencies.' : Regulator vows to back US exporters fearful about Trump's shipping fees US opening investigation into container shipping choke points FMC investigating Spain's alleged blocking of US ships Click for more FreightWaves articles by John Gallagher. The post Labor group issues warning about largely unregulated 'dark fleet' appeared first on FreightWaves.
