US lawmakers introduce bills that could force crypto exchanges to cut ties with Russian wallets By Cointelegraph

Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on United States businesses handling crypto transactions for Russian banks and individuals.

Speaking at a hybrid markup meeting with the House Financial Services Committee on Thursday, Sherman said he will be introducing a companion bill to Senator Elizabeth Warren’s legislation that would give the Biden administration “explicit authority to require that crypto exchanges that are subject to U.S. law stop facilitating transactions with Russian-based crypto wallets.” Warren first announced the legislation on March 8, later saying during a Senate Banking Committee hearing she will be introducing the bill on Thursday.

Representative Brad Sherman addressing the House Financial Services Committee on Thursday