The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has sanctioned crypto wallets belonging to individuals and companies allegedly linked to fentanyl production. On October 3, the US Department of Justice announced that it had filed a lawsuit against China-based chemical manufacturers and their employees. These companies and their employees allegedly concealed their identities and the location and movement of their funds by using cryptocurrency in illegal transactions related to the distribution of fentanyl precursors.
OFAC has designated Bitcoin (BTC), Ether (ETH), USD Coin (USDC), Tether (USDT) and Tron (TRX) wallets with ties to Chinese nationals and Valerian Labs as Specially Designated, along with companies like Hanhong Pharmaceutical Technology and Hebei Crovell Biotech. Added to contact list. In the United States, fentanyl is estimated to cause more than 67,000 deaths in 2021. Drawing attention to the connections between cryptocurrencies and drug trafficking, Massachusetts Senator Elizabeth Warren called for action on this issue.
This also marks the 10th year in prison for Silk Road founder Ross Ulbricht. Although the platform has been criticized for facilitating drug dealing by allowing payments with digital assets, it still has supporters in the crypto space. What are you thinking? Share your opinions about the connection between cryptocurrencies and drug trafficking in the comments section.
OFAC has designated Bitcoin (BTC), Ether (ETH), USD Coin (USDC), Tether (USDT) and Tron (TRX) wallets with ties to Chinese nationals and Valerian Labs as Specially Designated, along with companies like Hanhong Pharmaceutical Technology and Hebei Crovell Biotech. Added to contact list. In the United States, fentanyl is estimated to cause more than 67,000 deaths in 2021. Drawing attention to the connections between cryptocurrencies and drug trafficking, Massachusetts Senator Elizabeth Warren called for action on this issue.
This also marks the 10th year in prison for Silk Road founder Ross Ulbricht. Although the platform has been criticized for facilitating drug dealing by allowing payments with digital assets, it still has supporters in the crypto space. What are you thinking? Share your opinions about the connection between cryptocurrencies and drug trafficking in the comments section.