U.S. lawmakers propose including provisions in the National Defense Authorization Act to prohibit U.S. crypto platforms from trading with Russia

According to ChainCatcher, Fox reporter Eleanor Terrett reported that U.S. Congressman Brad Sherman submitted an amendment to the House Rules Committee, requiring the following to be included in the passed National Defense Authorization Act (NDAA):

1. The Secretary of the Treasury will have "clear authority to prohibit digital asset trading platforms and trading intermediaries under U.S. jurisdiction from transacting with known or reasonably suspected cryptocurrency addresses in Russia."

2. The Financial Crimes Enforcement Network (@FinCENnews) will have the authority to require U.S. taxpayers participating in overseas cryptocurrency transactions exceeding $10,000 to submit FinCEN Form 114 (FBAR).