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Sanctions on Russian Digital Assets: New Rules for Platforms and Users

This act allows for sanctions on foreign platforms and individuals facilitating the use of digital assets by sanctioned Russians. US citizens conducting digital asset transactions over $10,000 outside the US will need to report them.
Key points
Potential blocking of transactions and property of foreign entities assisting sanctioned Russians with digital assets.
Requirement for US citizens to report digital asset transactions over $10,000 made outside the country.
The US Treasury Department will publish a list of high-risk digital asset platforms for sanctions evasion and money laundering.
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Expired
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Additional Information
Print number: 117_HR_7429
Sponsor: Rep. Sherman, Brad [D-CA-30]
Process start date: 2022-04-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Russian Digital Asset Sanctions Compliance Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7429.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-04-06.

What are the main provisions?

Key points include:

  • Potential blocking of transactions and property of foreign entities assisting sanctioned Russians with digital assets.
  • Requirement for US citizens to report digital asset transactions over $10,000 made outside the country.
  • The US Treasury Department will publish a list of high-risk digital asset platforms for sanctions evasion and money laundering.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sherman, Brad [D-CA-30].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law