{"id":67493,"date":"2022-09-21T16:51:34","date_gmt":"2022-09-21T13:51:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67493"},"modified":"2025-09-07T06:53:31","modified_gmt":"2025-09-07T03:53:31","slug":"us-house-backs-bill-to-block-sanctions-evasion-via-cryptocurrency","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-house-backs-bill-to-block-sanctions-evasion-via-cryptocurrency\/","title":{"rendered":"US House backs bill to block sanctions evasion via cryptocurrency"},"content":{"rendered":"<p>The U.S. House of Representatives <a href=\\\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/7338\\\">backed<\/a> the Russia Cryptocurrency Transparency Act, designed to prevent Russia from evading sanctions via cryptocurrency.<\/p>\n<p>The document notes the rising risks of using digital assets to evade sanctions imposed on Russia and Belarus by the United States and other countries.<\/p>\n<p>According to the bill, the Treasury Department and the U.S. State Department would be required to report to Congress on:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>any attempts by Russia or sanctioned individuals to circumvent sanctions using digital assets;<\/li>\n<li>attempts by sanctioned individuals to use DeFi services, exchanges, brokers or wallets to conduct transactions;<\/li>\n<li>an assessment of the effectiveness of using digital currencies to comply with sanctions and the potential impact of the spread of such assets on the United States&#8217; national security interests.<\/li>\n<li>to counter the evasion of sanctions by the United States government.<\/li>\n<\/ul>\n<p>The U.S. authorities should also explore ways to support economic development and provide humanitarian assistance to Ukraine, including through blockchain technology and cryptocurrencies.<\/p>\n<p>The document contemplates appointing a specialist on digital currencies in the sanctions context.<\/p>\n<p>Furthermore, the State Department must report to Congress on <a href=\\\"http:\/\/uscode.house.gov\/view.xhtml?req=(title:22%20section:2708%20edition:prelim)\\\">\u0432\u044b\u043f\u043b\u0430\u0442\u0430\u0445 \u0432\u043e\u0437\u043d\u0430\u0433\u0440\u0430\u0436\u0434\u0435\u043d\u0438\u0439 \u0432 \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442\u0430\u0445<\/a>.<\/p>\n<p>The next step is for the Senate to pass the bill.<\/p>\n<p>As previously reported, US lawmakers introduced the draft act establishing oversight of cryptocurrency use on March 31.<\/p>\n<p>In July, American diplomats urged Japan to step up pressure on cryptocurrency exchanges and miners in the country to force them <a href=\"https:\/\/u1f987.com\/en\/news\/us-urges-japan-to-halt-cryptocurrency-operations-in-russia\">cut ties with Russia<\/a>.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. House backed a bill aimed at preventing Russia from evading sanctions with cryptocurrency.<\/p>\n","protected":false},"author":1,"featured_media":67494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[27,686,26],"class_list":["post-67493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-russia","tag-sanctions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67493"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67493\/revisions"}],"predecessor-version":[{"id":67495,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67493\/revisions\/67495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67494"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}