U.S. Senator Elizabeth Warren (D-Mass.) announced a new bill to block cryptocurrency companies from conducting business with sanctioned companies on Thursday.
The Digital Assets Sanctions Compliance Enhancement Act, introduced with Senators Jack Reed (D-R.I.), Mark Warner (D-Va.) and Jon Tester (D-Mont.) and others, would allow the U.S. president to add non-U.S.-based crypto companies to sanctions list if they support sanctions evasion.
"This is a bill that would authorize the President to sanction foreign cryptocurrency firms that are doing business with sanctioned Russian entities and authorize the Secretary of Treasury to act," she said.
A text of the bill was not immediately available.
Warren announced the bill during a hearing on how crypto might be used for illicit finance held by the Senate Banking Committee.
