The United States intends to prevent Russia from circumventing sanctions with the help of digital currency.
What is known
The bill has been considered andaccepted under the accelerated procedure. The document is called the Russia Cryptocurrency Transparency Act. The bill was approved by the United States House of Representatives after 316 legislators voted in favor and 69 against.
Russia Cryptocurrency Transparency Actinvolves a number of measures aimed at curbing any actions that could help Russia circumvent the sanctions imposed on it by the United States and other countries. It is expected that the United States Department of Foreign Affairs will have an official responsible for analyzing the impact of digital assets on the sanctions regime.
After the adoption of the bill by the MinistryTreasury and the US Department of State have 30 days to collect and submit to Congress information about attempts by Russia or individuals who have fallen under sanctions to use cryptocurrency exchanges, exchangers, wallets, decentralized finance to make transactions. It is also necessary to study what impact the spread of virtual currency has on the national interests of the United States.
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