Home Cryptocurrency News Meeks, McCaul Launch Assertion Following Passage of Russia Cryptocurrency Act – Home International Affairs Committee

Meeks, McCaul Launch Assertion Following Passage of Russia Cryptocurrency Act – Home International Affairs Committee

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Washington, DC – Representatives Gregory W. Meeks and Michael McCaul, Chair and Rating Member of the Home International Affairs Committee, issued the next assertion following the passage of H.R. 7338, the Russia Cryptocurrency Transparency Act, on the Home flooring yesterday: 

“The crucial of ravenous Vladimir Putin of funds for Russia’s unlawful struggle in Ukraine has introduced renewed deal with the function cryptocurrencies can doubtlessly have in cash laundering and sanctions evasion. Although there are authentic and helpful use instances for cryptocurrencies, some digital asset merchandise can be utilized to masks the origins of transactions and facilitate sanctions evasion. We’re proud to have handed the Russia Cryptocurrency Transparency Act on the Home Ground, which would offer vital transparency and details about these practices, together with the utilization of cryptocurrencies within the State Division Rewards program. We hope to see this important laws cross by the Senate and signed into legislation by the White Home to make sure entry to data that may steer U.S. overseas coverage because it adapts to a altering monetary expertise panorama.” 

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