Lawmakers Urge Biden Admin for Heightened Crypto Oversight

US lawmakers are urging the Biden government to keep crypto oversight as a priority since countries at present are using it for sanction evasion. According to a Reuters report, to find out what further powers could be required to stop sanctioned entities in Russia and other countries from using digital assets like the stablecoin Tether, two lawmakers are applying pressure to the Biden administration regarding the use of cryptocurrencies to circumvent sanctions in North Korea, Iran, and Russia.