Lawmakers Raise Alarm on Crypto for Sanctions Evasion as Experts Cast Doubt

U.S. Senators Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio), Mark Warner (D-Va.) and Jack Reed (D-R.I.) and New York Governor Kathy Hochul addressed this concern in separate public statements Wednesday. The senators asked Treasury Secretary Janet Yellen what steps her department would take to mitigate any such usage, while Hochul announced that the New York Department of Financial Services (NYDFS) would accelerate its efforts to contract crypto analytics tools.