US Government to be Notified of all Crypto Rewards Payments | Crypto

US Government to be Notified of all Crypto Rewards Payments

– The “Russia Cryptocurrency Transparency Act” is a new bill that requires the U.S. Congress to be notified of all cryptocurrency aid provided to Ukraine.
– The bill asks for the appointment of a Director of Digital Currency Security in the office of Economic Sanctions Policy and Implementation of the DOS.
– The bill demands that the Secretary of State notify the Committee on Foreign Affairs and the Committee on Foreign Relations at least 15 days before paying out any cryptocurrency rewards.
– The bill asks the DOS to submit a report explaining why it chose to pay out rewards in cryptocurrency.
– The bill also requires a report on the role of cryptocurrency and blockchain in providing humanitarian aid to Ukraine and promoting economic development.
– Additionally, the bill requires the Secretary of State, in consultation with the Secretary of the Treasury, to submit a report on the extent to which digital currencies can impact the effectiveness and enforcement of U.S. sanctions against the Russian Federation.

image 2022 09 20 195637910 US Government to be Notified of all Crypto Rewards Payments

Leave a Reply

%d bloggers like this: