Senator Elizabeth Warren Demands Updates on Biden Administration's Efforts to Throttle Cryptocurrency Use in Fentanyl Trafficking

Senators Elizabeth Warren and Bill Cassidy have written to the White House Office of National Drug Control Policy and the Drug Enforcement Administration, requesting updates on the Biden administration's efforts to prevent the use of cryptocurrencies in drug trafficking. The senators argue that cryptocurrencies have played a significant role in facilitating the manufacturing and trafficking of fentanyl and laundering drug cartels' criminal proceeds. The U.S. Treasury Department and federal law enforcement agencies have already pursued networks and individuals involved in the trafficking of fentanyl precursor chemicals. Senator Warren has previously suggested the need for laws to shut down the use of digital assets in this segment of the global drug trade.