Senator Elizabeth Warren has introduced new legislation focused on Russia, sanctions and potential crypto use.advertisementWarren announced the introduction of the"Digital Asset Sanctions4Compliance Enhancement Act" during aon March 17. The bill features co-sponsorship from 10 other Democratic senators, including leaders of the Foreign Relations and Agriculture Committees, but not the Banking Committee Chair Sherrod Brown.
At the hearing, Warren said:"The crypto industry claims that Russians can’t use crypto to hide their wealth.” Though the bill is not yet available on the Congressional dossier, The Block has obtained a copy of what appears to be a final draft. It requires the White House to assemble a report on all crypto service providers that have any affiliation with Russia. It also gives sweeping authority to the Treasury to bar crypto services providers like exchanges from transacting with any addresses that are associated with Russia.
The bill notably establishes a broad definition for so-called"digital asset transaction facilitators" -- a definitional area that is likely to spark opposition from industry groups. As the legislation states, such entities are defined as"any person, or group of persons, that significantly and materially facilitates the purchase, sale, lending, borrowing, exchange, custody, holding, validation, or creation of digital assets on the account of others, including any communication protocol, decentralized finance technology, smart contract, or other software, including open-source computer code.
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the_postman_ The lightweights supporting this drivel must be cashing favors. This is so me too bad policy.
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the_postman_ Who the hell votes these morons in? I mean really, that's the best you got?
the_postman_ why wont ths karen RIP yet ewarren
the_postman_ who are the 10 co-sponsors?
the_postman_ SenWarren you need to ban gold! Russians are flying planes full of gold 🤣🤣 communists
the_postman_ Pretty sure she sent elon 1 btc and didnt get 2 back at some point