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OFAC blocking FAQ

What is an OFAC sanctioned address?

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanctions. An OFAC sanctioned address is an address that either is listed on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) or is one that may be associated with an OFAC-sanctioned person. To learn more about the OFAC, please visit the U.S. Department of the Treasury website Office of Foreign Assets Control - Sanctions Programs and Information | US Department of the Treasury

Where did my funds go? 

If you have been notified that you attempted to send to or receive from a sanctioned address, these funds will be transferred to and securely held in a Coinbase internal holding account. Any remaining funds in your account are not subject to this restriction and are available for your use, subject to the terms of the Coinbase User Agreement. If your account was suspended by Coinbase for any other reason, you will receive a separate notice from us.

How do I receive the funds I sent back?

In order for Coinbase to release your funds, you have to apply to OFAC for a specific license by completing the Release of Blocked Funds license application on OFAC's website.

Coinbase cannot take further action on these funds until receiving a license from OFAC. After obtaining an OFAC license, follow these instructions below to submit a copy of your approved license to Coinbase.

OFAC license submission instructions:

  1. On the Coinbase Contact Us page, select Coinbase from the product list

  2. In the Let’s get started field, select Other issues 

  3. In the What’s your issue about? field, select OFAC general

  4. In the What seems to be the problem? field, select Submit OFAC License

  5. After creating the case be sure to attach:

    • A copy of the approved license 

    • The transaction's reference ID

For more information, visit the OFAC FAQ website.

How long will it take for me to see my fund back after submitting my approved OFAC license? 

You should see your funds within 24-48 hours after submitting your license to us.

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