Biden is expected to sign an executive order on cryptocurrency this week. It will mark the first step toward regulating how digital currency is traded
on the topic in January that explores the risks and benefits of U.S.-backed digital currency.
While U.S. officials have played down the significance of cryptocurrency to Russia’s ability to evade sanctions, it remains a concern. A senior administration official who spoke on condition of anonymity said the president’s national security team has already been on the lookout for the use and creation of front companies and alternative financial institutions that Moscow might try to employ to get around sanctions.
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