The issue of crypto funding the notorious fentanyl trade has surged into the spotlight, triggering serious conversations at the highest levels of government. Elizabeth Warren, the seasoned US Senator from Massachusetts, has been at the forefront of this discussion.
Warren brought attention to the dire issue during a recent Senate hearing. Consequently, underscoring the urgency of implementing legislation to disrupt this grim pipeline.
Elizabeth Warren Wants to Shutdown Crypto
In the Senate Banking Committee, Warren leaned on compelling data. According to the findings, over 90 Chinese enterprises have been implicated in producing fentanyl precursors. Most of which are facilitating transactions through crypto.
Cryptocurrency has positioned itself as the preferred medium of exchange for organized crime groups. Particularly those operating from China and involved in the fentanyl trade.
