in the USA Democratic Party Senatorstook action for a new cryptocurrency law. Russia has started to turn to crypto money assets after the sanctions decisions from the world. Bad news came from the USA for Russia, which allegedly managed to pierce the sanctions with cryptocurrencies. Accordingly, the new cryptocurrency law, cryptocurrency exchanges is targeting.
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US seeks new sanctions for new crypto money law Russia
Cryptocurrencies tend to rise after the Fed’s decision to raise interest rates. However, there is a possibility that even the news of the US new crypto money law will pull this rising momentum down. In this sense, with the new law, serving in Russia cryptocurrency exchanges Sanctions are also coming.
In this sense Digital Asset Sanctions Compliance Act judicial cryptocurrency law especially the draft Coinbase It will put a legal obstacle to the service of Russian institutions and organizations by US-based crypto bus exchanges such as. In addition, a Russian ban is coming for all crypto exchanges serving in the USA.
According to the draft law, it is among the plans to prevent crypto money exchanges that offer services in the USA to people residing in Russia. In this sense, in the Binance USA It is also a matter of curiosity whether there will be a sanction on giant exchanges such as Binance, which provides services in the form of.
With the bill, it is planned to prevent money laundering in the USA as well as Russia. Accordingly, foreign cryptocurrency exchanges, which are considered to be high risk, are subject to US taxpayers. 10 thousand dollars It will impose an obligation to report over-the-counter cryptocurrency withdrawals.
Crypto exchanges are Russia for sanction he doesn’t like to do it. Coinbase and Kraken exchanges In this sense, they are not very willing to withdraw from Russia without a legal obstacle. Binance, on the other hand, believes that the existing authentication methods are sufficient.
Despite this proposal, the Joe Biden administration does not think that Russia can circumvent sanctions by using cryptocurrencies. In this sense, the US administration thinks that the crypto money market cannot carry such large money transfers.
The bill, which is currently being discussed in the US Senate, is not expected to become law in the near future. The Digital Asset Sanctions Compliance Act has the support of Democratic Senator Elizabeth Warren and ten Democratic Senators.
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