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Here’s how the new sanctions bill could hurt the crypto industry

A group of democratic co-sponsors led by Senator Warren introduced a bill titled the Digital Asset Sanctions Compliance Enhancement Act. The bill calls for sanctions on:“Anyone who significantly and materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to, or in support of any [sanctioned] person’s] person.” The bill also allows the Secretary of Treasury to implement a full and indiscriminate ban on exchanges or non-custodial transaction facilitators doing business with anyone or any cryptocurrency address known to be, or could reasonably be known to, affiliated with persons in Russia. All developers who created the code and all nodes, validators, miners, and all other similar roles who help the system work would be sanctioned. . . .

Read more at cryptoslate.com
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