US lawmakers are urging the Biden government to keep crypto oversight as a priority since countries at present are using it for sanction evasion. According to a Reuters report, to find out what further powers could be required to stop sanctioned entities in Russia and other countries from using digital assets like the stablecoin Tether, two lawmakers are applying pressure to the Biden administration regarding the use of cryptocurrencies to circumvent sanctions in North Korea, Iran, and Russia.
US Lawmakers Urge Crypto Oversight
Crypto oversight has become an important issue for US lawmakers right before the upcoming 2024 election. Senators Elizabeth Warren (Democrat) and Roger Marshall (Republican) of the United States wrote a letter on Sunday to Treasury Secretary Janet Yellen and Defense Secretary Lloyd Austin, indicating that they are becoming more concerned about the possibility of using cryptocurrencies to get around sanctions.
Senator Warren wrote to Treasury Secretary Janet Yell
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