The way that I read the bill is that the Secretary provides a report to the president of facilitators who knowingly transacted with global or international terrorist organizations, who then decides if the US government will impose sanctions. Groups can only be denoted terrorist organizations if they've committed political violence against civilians, and it's a big deal to put a new group on the list because it triggers a whole bunch of activity and action within the US.

Which is not to say you shouldn't keep an eye on this... but it's not allowing the Treasury to just ban people or crypto transactions willy-nilly. A sanction basically means it can tell US Financial Institutions to not allow transactions to certain accounts or people. I don't really know how this would work when people can easily spin up new accounts.