Senator Elizabeth Warren introduced new legislation against the use of cryptocurrency in Russia.
According to The Block, the law requires the White House to compile a report on all crypto-service providers that have anything to do with Russia. It also gives the Treasury Department broad authority to prohibit cryptocurrency service providers and exchanges from transacting with any addresses linked to Russia.
The bill establishes a broad definition of so-called “facilitators of digital asset transactions.”
The legislation specifies that such entities are defined as “any person or group of persons who substantially facilitate the purchase, sale, lending, borrowing, exchange, storage, verification or creation of digital assets through decentralized financing technology, smart contracts or other software, including open source computer code.”