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agency

Office of Foreign Assets Control

Office of Foreign Assets Control (OFAC) is an office of the U.S. Department of the Treasury. It administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals.

ofac.treasury.gov

Director

Bradley T. Smith

Key facts

Founded: 1950 as the Division of Foreign Assets Controlsource
Renamed: October 15, 1962 (became the Office of Foreign Assets Control)source
Parent office: Office of Terrorism and Financial Intelligence (since 2004)source
Key event: 2014: record $963 million settlement with BNP Paribassource

WYDE coverage of Office of Foreign Assets Control

Tether Says It Helped Freeze Nearly $550 Million in Iran-Linked USDT This Year

Sep 28, 2026 · 2 min read

The Treasury Sanctions Two Iranian Firms Over a Bitcoin Ship Insurance Scheme in the Strait of Hormuz

Aug 2, 2026 · 3 min read

Visa built stablecoin rails, Wyoming set a giving record, and the EAT Card hit the App Store. Over 60,000 meals.

Jul 18, 2026 · 6 min read

Tether Freezes $131 Million After OFAC Sanctions Four Iran Central Bank Wallets

Jul 16, 2026 · 2 min read

Treasury Sanctions a Crypto Network Used to Finance ISIS

Jun 27, 2026 · 2 min read

Iran Will Accept Bitcoin for Strait of Hormuz Tanker Tolls at $1 per Barrel During Two-Week Ceasefire

Apr 13, 2026 · 3 min read

Sources

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