Members of Congress may have views you strongly agree or disagree with. Make sure you check their full platform.
Rep. Juan Vargas has 1 statement(s) about crypto.
"Our global financial markets are tied to Putin’s unwarranted & illegal war in Ukraine.
Today at @FSCDems hearing, I asked @federalreserve Chairman Powell about how Russia could use cryptocurrency to get around the sanctions we’ve imposed.
This bill allows additional sanctions against Russia and creates specified reporting requirements regarding digital assets.
Specifically, the President must periodically identify foreign persons who facilitate evasion of Russian sanctions using digital assets. The bill authorizes sanctions against such persons.
The bill requires a U.S. taxpayer engaged in offshore digital asset transactions greater than $10,000 to file an annual Report of Foreign Bank and Financial Accounts with the Financial Crimes Enforcement Network.
The bill allows the Department of the Treasury to prohibit U.S. digital asset trading platforms and transaction facilitators from transacting with Russian digital asset addresses. Additionally, Treasury must report on its progress in implementing the bill and must annually identify foreign digital asset trading platforms that are a high risk for sanctions evasion, money laundering, and other illicit activities.