🚨 BREAKING NEWS: Cryptocurrencies are being used to evade sanctions, European Central Bank President Christine Lagarde says — and exchanges may be 'accomplices'
Coinbase confirmed that it has blocked more than 25,000 addresses that are connected to Russian individuals or entities that are suspected of engaging in illicit activity.that it had identified a wallet with "significant cryptoasset holdings" worth millions of dollars that may be linked to sanctioned Russian officials and oligarchs.
However, many experts believe that the crypto markets are too small to be used to systemically sidestep sanctions — and major drawbacks include a lack of liquidity, high levels of transparency through blockchain technology, and few effective anonymous off-ramps back into fiat.U.S. Senator Elizabeth Warren — who has long been a vocal critic of cryptocurrencies — proposed a bill that would give the White House greater power to clamp down on sanctioned Russians who are using crypto.
If approved, Treasury Secretary Janet Yellen would have the power to stop American crypto exchanges from processing transactions involving wallets that are based in Russia. Her department would also be asked to effectively name and shame foreign trading platforms that are a "high risk" for sanctions evasion, money laundering, or other illicit activities.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese crypto exchanges aim to catch up with coin listings: ReportThe Japan Virtual and Crypto Assets Exchange Association is working to simplify coin listings on Japanese crypto exchanges to boost the local crypto industry.
Read more »
Help! My Mother-In-Law Made Me Cancel the Coolest Part of My Wedding Weekend.DearPrudie: Why does she get what she wants and I don’t?
Read more »
Crypto News, March 22: Bitcoin Price Surges, Big Adoption Announcements, Sports Stars Go All In | CoinMarketCapToday's news with ConnorSephton 📰 🚀 Bitcoin hits $43,000 🚨 Europe warns exchanges 😭 'Experienced' investor loses $1.7M 🔥 Major investing app offers crypto to users 👊 UFC star gets paid in BTC 💰 World's biggest hedge fund eyes crypto And more! 👇
Read more »
US Treasury Official: We Don't See That Crypto Could Be Used in Large-Scale Way to Evade Sanctions – Regulation Bitcoin NewsCrypto's 'share as a medium for illicit finance is not anywhere as large as just using cash,' said the Treasury official. cryptocurrency bitcoin $BTC
Read more »