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2023.10.06

U.S. Justice Department launches crackdown on “use of virtual assets to distribute drugs in China

The U.S. Department of Justice has taken action against Chinese companies involved in producing and distributing fentanyl and methamphetamine in the United States, alleging the use of cryptocurrencies to conceal identities and financial transactions. Recent efforts have resulted in the seizure of a substantial quantity of fentanyl-related chemicals and the exposure of a global distribution network with Chinese manufacturers. Fentanyl has emerged as the leading cause of death among individuals aged 18 to 49 in the U.S., contributing significantly to drug overdoses. The U.S. government is committed in addressing this crisis and holding suppliers accountable. Furthermore, there are ongoing initiatives to combat the use of cryptocurrencies in drug distribution, including cases involving organizations such as the Mexican Sinaloa cartel, which have been found using Ethereum wallets for fund transfers.

 

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