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How lawmakers plan to punish crypto platforms that do business with sanctioned firms and individuals

Cyberattack ransoms and cryptocurrency mining are unlikely to generate enough revenue to replace regular business activity in sanctioned nations, digital money experts and former law-enforcement officials told a US Senate hearing Thursday.

The amount of cash needed to operate a major economy far outstrips the ability of crypto markets to handle such volumes, witnesses said in testimony to the Senate’s Committee on Banking, Housing and Urban Affairs.

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