US Treasury sanctions crypto wallets as authorities crack down on fentanyl

The Workplace of Overseas Belongings Management (OFAC) of the USA Division of the Treasury has sanctioned crypto wallets allegedly related to people and corporations concerned within the manufacturing of fentanyl.

In an Oct. 3 discover, the U.S. Justice Division introduced indictments in opposition to a number of China-based chemical producers in addition to lots of their staff, who allegedly used crypto transactions as a part of an unlawful fentanyl precursor distribution scheme. In keeping with the U.S. authorities, the businesses “have a tendency to make use of cryptocurrency transactions to hide their identities and the situation and motion of their funds”, figuring out a minimum of 3 people who held crypto wallets for funds.

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