On April 28, US Senators Elizabeth Warren and Roger Marshall sent a letter to the Ministry of Treasury, the Ministry of Defense and the White House, in which they expressed concern about the use of cryptocurrencies to circumvent sanctions. This is reported by the Wall Street Journal.
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Details
The authors asked a number of clarifying questions regarding transactions in the USDT stablecoin carried out by the Russian Federation, Iran and North Korea.
“Tether’s USDT has become the cryptocurrency of choice for those trying to avoid sanctions and other categories of violators,” says the official letter.
The senators also asked whether the Department of Defense and the administration support President Biden's request from the US Treasury for new powers.
Recall
Earlier, the US Treasury requested additional ways to monitor compliance with secondary sanctions.
Officials also called for the adoption of a law expanding the scope of the agency's activities in the “digital asset ecosystem” and rules that resolve jurisdictional problems for regulating foreign companies in the industry.
After news of Venezuela's plans to circumvent US sanctions with the help of USDT, Tether announced its intention to block payments used with this goal.
