ICYMI: In light of Russia sanctions, Senate to hold hearing on crypto in illicit finance
The Senate is exploring crypto's use in sanctions evasion next week.
The Senate Banking Committee announced the hearing, entitled"Understanding the Role of Digital Assets in Illicit Finance" on March 11. It will take place on March 17 and featureLevin remains the sole confirmed witness. Committee staff had not responded to The Block's request for comment on more witnesses as of publication time.
Information on the hearing remains limited, but Banking Committee members have been heavily involved in recent moves on cryptocurrency. Chairman Sherrod Brown said of Biden's March 9 executive order:“It’s imperative we strengthen our financial resilience and national security right now. That includes protecting Americans from the risks of crypto to our economy and ensuring crypto can’t be used to skirt the law.
Elizabeth Warren, who also sits on the committee, is said to be working on legislation to block crypto exchanges from serving Russian users.
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