Lawmakers with the House Financial Services Committee invoked crypto many times during discussions about the US sanctions on Russia
payments network. The Fed chair said that the situation with Russia"underscores the need for really congressional action on digital finance, including cryptocurrencies," adding:
“It is time, in fact it is past time for all of us to lead on creating a regulatory environment in which we rather than the world’s despots, terrorists, and money launderers benefit from the emergence of cryptocurrency including a central bank digital currency,” said Himes. “It is time for all of us to act.”
“There are growing concerns that Russia may use cryptocurrencies to circumvent the broad new sanctions it faces from the Biden administration and foreign governments in response to its invasion of Ukraine,” said the four senators.
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