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OFAC Updates Week of 5/3/21

May 6, 2021

The Office of Foreign Assets Control (OFAC) has published a new Frequently Asked Question (FAQ) related to Luokung Technology Corp. and Executive Order (E.O.) 13959. E.O. 13959, "Addressing the Threat From Securities Investments that Finance Communist Chinese Military Companies," prohibited U.S. citizens from engaging in any transaction in public traded or derivative securities that would provide investment in any Communist Chinese Military Companies. FAQ 893 notifies exporters that E.O. 13959 does not apply to Luokung Technology Corp.

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