The crypto industry is lobbying U.S. lawmakers against two bills aimed at preventing Russian oligarchs from using cryptocurrency to avoid sanctions. Соединенные штаты. and many other countries placed sanctions on them after Russia began its invasion of Ukraine.
Bills Preventing Wealthy Russians From Using Crypto to Avoid Sanctions
The Blockchain Association has been lobbying U.S. lawmakers against two bills designed to prevent Russian oligarchs from using cryptocurrency to evade sanctions imposed on them after Russia began its invasion of Ukraine, CNBC reported last week.
The first is a House bill titled “Russian Digital Asset Sanctions Compliance Act of 2022.” The other is a Senate bill спонсируемый by crypto skeptic Senator Elizabeth Warren (D-Mass) титулованный “Digital Asset Sanctions Compliance Enhancement Act of 2022.”
The bills give the Biden administration the authority to prohibit U.S. crypto exchanges from processing payments from Russia. They would also allow U.S. authorities to sanction foreign exchanges process transactions by sanctioned Russian people or companies.
The organization represents more than 70 криптоплатформы, including AAVE, Anchorage Digital, Ava Labs, Bitdeer, Blockchain Capital, Блокировать фи, Brevan Howard, Адам Фиксор, Круг, Crypto.com, Digital Currency Group, Стрекоза Капитал, Эторо, Оттенки серого, Кракен, пульсация, Silvergate, Солана, Терра, Voyager, and Wicklow Capital.
The group is trying to convince lawmakers that cryptocurrency is not being used by wealthy Russians to avoid sanctions.
Curtis Kincaid, a spokesperson for Blockchain Association, explained that the organization is trying to convince lawmakers to “separate fact from fiction on the inability of Russia to transfer large sums of money via crypto transactions in order to evade sanctions,” публикация передала.
Lawyer Jake Chervinsky, policy head at the association, прокомментировал:
These bills don’t target Russian oligarchs, who aren’t using (& может’t use) crypto to evade sanctions. They target upstanding US crypto companies for no apparent reason except Sen. Элизабет Уоррен’s crusade against a technology she doesn’t understand.
While some lawmakers are worried about the use of crypto to circumvent sanctions, many experts have said that crypto is not an effective tool for sanctions evasion. США. Treasury official сказал in March: “We don’t see that crypto could be used in a large-scale way to evade sanctions.”
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