OFAC Publishes New Venezuela General License 60 in Federal Register
OFAC has formally published General License 60 under the Venezuela Sanctions Regulations, making it part of the official Federal Register record after it was previously available only on OFAC's website. General licenses can authorize specific categories of transactions that would otherwise be prohibited, and any firm with exposure to Venezuela-related activity — including crypto transactions — must understand what GL 60 permits and its conditions. Compliance officers should update their sanctions screening procedures and customer guidance accordingly.
What to do
- Obtain and review the full text of Venezuela Sanctions GL 60, determine whether any current or anticipated customer transactions fall within its scope, and update your sanctions compliance policies and screening controls to reflect the authorized activity and any associated conditions.
Who this affects
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Source
Read the official publicationThis radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.