Warren briefed drug agencies about crypto’s links to the fentanyl trade
U.S. Senator Elizabeth Warren is asking for an update on the drug agencies' current findings and efforts to combat the use of crypto in the illegal fentanyl market.
“[We] “Seek an update on the Biden administration's actions to stop the exploitation of drug traffickers to grow their business and harass their ill-gotten gains,” Senators Warren and William Cassidy wrote in a May 29 letter.
The letter, sent to Office of National Drug Control Policy Director Rahul Gupta and Drug Enforcement Administration Administrator Anne Melissa Milgram, reiterated their long-standing claim that cryptocurrencies have “played a significant role” in the fentanyl trade. For consumption in the United States.
Warren and Cassidy want the agencies to answer by June 14 how much role they think cryptocurrency plays in drug trafficking, what new initiatives will be implemented in the next 12 months and what metrics will measure success in combating illegal cryptocurrency. use in the fentanyl trade.
“What challenges do your offices face in trying to prevent cryptocurrency from being used in illegal drug transactions,” the two senators asked.
When the senators presented their case, a May 2023 investigation found that nearly 80 Chinese companies supplying fentanyl precursors received nearly $30 million in cryptocurrency payments.
“[This is] That's enough to buy the necessary prerequisites to manufacture $54 billion worth of fentanyl pills.
Related: Crypto Users Scammed By Fake Elizabeth Warren Letter Offering Crypto Tax
Warren has previously been criticized for citing misinformation in her anti-crypto agenda.
In the letter, Warren cited an October 2023 article in The Wall Street Journal that raised concerns about how much money Hamas uses to finance its terror activities linked to the Israeli-Palestinian war.
Warren has not publicly responded to the misinformation, although the WSJ later corrected it.
U.S. Attorney and XRP advocate John Deaton is seeking to take Warren's Senate seat in Massachusetts in the coming months.
“I would love the day I stand on the same stage with her and talk about income inequality. [and] The opioid crisis,” Deaton said in Consensus.
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