Senator Elizabeth Warren and three other Democratic lawmakers on Wednesday urged the Treasury Department to ensure the cryptocurrency industry is complying with sanctions imposed on Russia, expressing concern that digital assets could be used to undermine U.S. foreign policy goals.
In a letter sent to Treasury Secretary Janet Yellen, Warren along with Senators Sherrod Brown, Mark Warner and Jack Reed questioned whether the department’s Office of Foreign Assets Control (OFAC) had effective guidelines in place to enforce sanctions compliance within the crypto industry.
