Digital Asset Sanctions Compliance Enhancement Act of 2022

Summary

Digital Asset Sanctions Compliance Enhancement Act of 2022 This bill allows additional sanctions against Russia and creates specified reporting requirements regarding digital assets. Specifically, the President must periodically identify foreign persons who facilitate evasion of Russian sanctions using digital assets. The bill authorizes sanctions against such persons. The bill requires a U.S. taxpayer engaged in offshore digital asset transactions greater than $10,000 to file an annual Report of Foreign Bank and Financial Accounts with the Financial Crimes Enforcement Network. The bill allows the Department of the Treasury to prohibit U.S. digital asset trading platforms and transaction facilitators from transacting with Russian digital asset addresses. Additionally, Treasury must report on its progress in implementing the bill and must annually identify foreign digital asset trading platforms that are a high risk for sanctions evasion, money laundering, and other illicit activities.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 March 2022

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 March 2022

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• Introduced in Senate

  summary · EN · 17 March 2022

  Open at official source

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