US Treasury official sees modest uptick in crypto illicit finance

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U.S. officials have observed an uptick in the use of digital assets to facilitate illicit finance since Russia invaded Ukraine

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the transaction volume is too small to play a big role in helping Moscow evade sweeping sanctions

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Treasury undersecretary for domestic finance, said the current state of digital assets

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Russia's elite from using cryptocurrencies to evade those measures

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Russia calls its actions in Ukraine a "special military operation" that is not designed to occupy territory but to destroy its neighbor's military capabilities

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Despite repeated assurances from Biden administration officials that crypto could not be used at a large scale

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Russian entities and prevent them from transacting with U.S. customers.

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Joe Biden's recent executive order on cryptocurrencies, said she had not yet seen the legislation.

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That executive order directed the Treasury along with the Justice Department and other agencies to study the legal and economic

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