U.S. reviews sanctions policy, warns of threat from cryptocurrencies

Published by
Reuters

By Daphne Psaledakis and Matt Spetalnick WASHINGTON (Reuters) – President Joe Biden’s administration on Monday announced a set of recommendations to revamp its use of economic sanctions to make them a more effective tool of U.S. foreign policy but warned that more had to be done to protect against the threat posed by the rise of cryptocurrencies. Following a broad review launched shortly after Biden took office in January, the U.S. Treasury Department unveiled a revised framework intended to take a more surgical approach to sanctions instead of the blunt-force method favored by his predecessor…

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