Warren calls for action on cryptocurrency’s role in fentanyl trafficking
Senator Elizabeth Warren calls on the U.S. drug enforcement agency Provides up-to-date information on actions against the use of cryptocurrencies in the illicit fentanyl trade.
In a letter dated May 29, Warren and Senator Bill Cassidy requested the following information from the heads of the Office of National Drug Control Policy (ONDCP) and the Drug Enforcement Administration (DEA): How will the Biden administrationIt addresses the issue of drug traffickers abusing cryptocurrencies to enhance their operations and launder their profits.
The senators emphasized: The growing role of digital currencies in the fentanyl market; We note that a significant portion of these drugs enter the United States.
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Citing a May 2023 investigation, the senator found: Some 81 Chinese companies providing fentanyl precursors received nearly $30 million in cryptocurrency. They noted:
<이 금액은> That’s enough to buy the precursors needed to produce $54 billion worth of fentanyl pills.
senator We requested responses from each agency by June 14th.
Warren is It has previously been criticized for citing inaccurate data in its anti-cryptocurrency argument. For example, she cited an October 2023 Wall Street Journal article that exaggerated Hamas’ use of cryptocurrencies to finance terrorism related to the Israel-Palestine war. Although the WSJ later corrected the error, Warren did not publicly address the misinformation.
Digital Asset Anti-Money Laundering Act enacted by Warren The proposed cryptocurrency was also criticized for not being well-suited to the complexity of cryptocurrencies. It could potentially drive innovation and investors away from the United States.
Nonetheless, the Drug Enforcement Agency’s response to Warren and Cassidy’s investigation will be critical in formulating regulatory and enforcement strategies related to the use of cryptocurrencies for illicit activities.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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