According to CoinDesk, U.S. Senators Elizabeth Warren and Bill Cassidy have written to the White House Office of National Drug Control Policy and the Drug Enforcement Administration (DEA) seeking updates on the use of cryptocurrencies in fentanyl trafficking. The senators are particularly interested in the administration's efforts to curb the exploitation of cryptocurrencies by drug traffickers to expand their operations and launder their illicit profits.
The letter highlights the growing role of cryptocurrencies in the global fentanyl trade over the past decade, both in facilitating the manufacturing and trafficking of the drug and in laundering the proceeds of drug cartels. The senators have called for more stringent measures to prevent the use of digital assets in this segment of the global drug trade.
The U.S. Treasury Department and federal law enforcement agencies have been actively pursuing networks and individuals involved in the trafficking of fentanyl precursor chemicals. Senator Warren had previously suggested the need for laws to shut down the use of digital assets in the global drug trade.
The announcement of the letter comes at a time when Senator Warren is facing re-election and just hours before the appearance of John Deaton, a crypto-supporting Republican aiming to unseat the prominent lawmaker, at CoinDesk's Consensus 2024 event.