Rep. Brad Sherman will introduce a bill to the House that targets US businesses involved in crypto transactions with Russian banks or individuals.

Sherman spoke at the hybrid markup meeting that Sherman attended with members of the House Financial Services Committee. He stated that he would be Introduce a companion bill to Senator Elizabeth Warren’s legislation that would give the Biden administration “explicit authority to require that crypto exchanges that are subject to U.S. law stop facilitating transactions with Russian-based crypto wallets.” Warren first AnnoucedThe legislation was adopted on March 8. Statement during the Senate Banking Committee HearingOn Thursday, she will present the bill.