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Warren and Cassidy pressure Biden administration to crack down on cryptocurrency use by drug cartels
In a recent letter to the Drug Enforcement Administration and the White House, Senators Elizabeth Warren and Bill Cassidy have called for more action to be taken to combat the use of cryptocurrency by drug cartels in trafficking fentanyl. This comes as a response to growing concerns in Congress about the fentanyl crisis and the ease with which drug cartels can obtain ingredients online to make the synthetic opioid. A CNN investigation found that cryptocurrency transactions for fentanyl ingredients surged 450% in the year through April 2023. The senators are seeking information on the progress of the administration's initiatives and any roadblocks they are facing in addressing this issue. Fentanyl continues to be a delicate issue in US relations with Mexico and China, with most of the drug entering the US coming from ingredients made in China and then smuggled in from Mexico by drug cartels. The DEA has expressed the need for more cooperation from their Chinese counterparts in combating money laundering concerns related to fentanyl.
