US Democrats introduce bill to curb Russian crypto use

Democratic US senators proposed a bill that would allow the president to sanction foreign cryptocurrency firms that do business with Russian entities and prevent them from conducting transactions with US clients. The law on compliance with sanctions for digital property is led by Senator Elizabeth Warren and co-sponsored by ten other Democrats. The bill should increase pressure on cryptocurrency exchanges to prevent digital currency from being used to avoid Russian sanctions. It would also allow the treasury secretary to block digital asset platforms operating in the USA from transacting with any Russian crypto users.