Regulation
The Senate bill could open cryptocurrencies to US sanctions, but the industry is trying to avoid it
“Overall, we are in line with the legislation’s goal of cutting funding to foreign terrorist organizations, and I appreciate that it limits coverage to those groups that have ‘knowingly’ facilitated funding to bad actors,” Carbone said, adding that the legislation it is not entirely bad or good. But guidelines for identifying violators and the lack of a system of proportional sanctions — perhaps tiered — could be problematic, he argued, and said that puts too much authority in the hands of the U.S. Treasury Secretary.