Sen. Warren takes a shot at crypto possible ties to fentanyl trade

The senator, a long-time crypto pragmatist, has requested from federal law enforcement agencies to outline how they police the use of digital assets in the fentanyl trade

As fentanyl continues to proliferate and takes a toll on the nation, US Sen. Elizabeth Warren has requested from law enforcement to share information on how they fight the use of cryptocurrencies in the illicit trade. Joined by White House Office of National Drug Control Policy and the Drug Enforcement Administration, Sen Bill Cassidy.

The pair has requested the Biden administration to provide further details on how it’s curbing the use of digital in the fentanyl trade, and the active steps it has taken to curb the laundry of illicit fund gained from the sale of the prohibited and dangerous substance.

Sen. Warren has been particularly worried about the use of crypto, and its acceptance by at least 90 Chinese businesses that had been tied to shipping fentanyl precursors in exchange for crypto, something that the senator said in 2023 must stop.

The latest effort is a continuation of this, with laws needed to remove cryptocurrencies from the global drug trade, so as to bring better accountability and transparency to the sector. Fentanyl overdoses have been on the rise, with both the federal and state legislations looking to address the problem.

Politicians of all stripes in the United States have signaled a readiness to now take the crypto industry more seriously and work with its members, especially now that the most likely candidates for the US presidency are openly endorsing the industry.  

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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