The U.S. Treasury Department has warned the crypto industry and investors against virtual currency transactions with several countries, including North Korea.
In its new sanctions guidelines for the cryptocurrency industry on Friday, the Department's Office of Foreign Assets Control called such transactions a violation of sanctions.
It said broad trade-based sanctions prohibit dealings with an entire country or geographic region -- unless exempt or authorized.
The sanctioned jurisdictions include Cuba, Iran, North Korea, Syria, and the Crimea region of Ukraine.
The Office also noted a case last year in which they sanctioned two Chinese nationals for their involvement in a North Korea state-sponsored money-laundering scheme.