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US Senator Urges Regulators to Increase Scrutiny on Crypto as It Risks Undermining Sanctions ...

• by Kevin Helms

Senator Elizabeth Warren Worried Russia Could Use Cryptocurrency to Evade Sanctions

As governments worldwide are placing sanctions on Russia following its invasion of Ukraine, U.S. Senator Elizabeth Warren is worried that cryptocurrency could give Russia a way to evade sanctions. The senator from Massachusetts tweeted Monday:

Cryptocurrencies risk undermining sanctions against Russia, allowing Putin and his cronies to evade economic pain.

"U.S. financial regulators need to take this threat seriously and increase their scrutiny of digital assets," she added.

Senator Warren's tweet was heavily criticized in the crypto community. Some people called her ignorant while others said she lied. One person tweeted: "So what you're saying is that a stateless, permissionless, decentralized, and censorship-resistant currency is out of your control so it must be stopped?"

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