The UK's Office of Financial Sanctions Implementation (OFSI) has published updated guidance clarifying reporting obligations for cryptoasset exchanges and wallet providers. The guidance emphasizes the need for robust blockchain analytics and due diligence to identify and report transactions or assets involving designated persons. It provides specific examples of reportable information and sets out OFSI's expectations for compliance programs within the virtual asset service provider (VASP) sector, aiming to prevent sanctions evasion through digital currencies.