U.S. Democrats introduce bill to curb Russian crypto use amid Ukraine crisis

Footage of the war in Ukraine is displayed as Ukraine’s President Volodymyr Zelenskiy delivers a video address to senators and members of the House of Representatives gathered in the Capitol Visitor Center Congressional Auditorium at the U.S. Capitol in Washington, U.S., March 16, 2022. REUTERS/Sarah Silbiger/Pool

Democratic U.S. senators introduced a bill on Thursday that would enable the president to sanction foreign cryptocurrency firms doing business with sanctioned Russian entities and prevent them from transacting with U.S. customers.

The Digital Asset Sanctions Compliance Act is led by Senator Elizabeth Warren and co-sponsored by 10 other Democrats, including Senators Mark Warner and Jon Tester.