Senator Elizabeth Warren (D-Mass.) is preparing a bill to make it harder to use crypto to avoid sanctions.
intweeted on tuesday Warren said her new bill would “Make sure Putin and his cronies do not use crypto to undermine our economic sanctions.”
According to NBC News The first to report on Warren’s proposed bill, stated that one of the provisions would make it easier to verify customers’ identities and transfer them to personal wallets. This will require financial institutions to keep detailed records and submit reports to the Treasury Department.
Warren and three other Democratic senators send a letterTo Treasury Secretary Janet Yellen last week He asked how the Ministry of Finance plans to enforce economic sanctions on the cryptocurrency industry.
“Strict enforcement of sanctions compliance in the cryptocurrency industry. (cryptocurrency) is important. because digital assets This allows the agency to bypass the traditional financial system. And it could be used as a tool to circumvent sanctions more,” the senator said.
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