“The number of crypto-currency transactions associated with Chinese fentanyl brokers increased by 450% in the last year alone,” Elizabeth Warren said, citing a report from the Elliptic group.
The Massachusetts senator spoke at a hearing on Wednesday, May 31, at the US Senate Banking Committee, where China’s influence was discussed.
“Congress has been talking about fentanyl for a long time. We suggest doing something to fight back,” the senator added.
More than 70,000 overdose deaths from synthetic opioids like fentanyl were reported in the US in 2021, according to the National Institutes of Health. And this despite the fact that one of the largest illegal platforms that helped illegal drug deals using crypto payments, Silk Road, was closed back in 2013, and founder Ross Ulbricht was sentenced to life in prison.
Elizabeth Warren is a Democratic US Senator and an ardent crypto skeptic. In March 2023, the senator called for the creation of a so-called “anti-crypto army”. Otherwise, the parliamentarian is sure, investors will continue to lose investments that they make in the so-called “new wild west”.
A bill to ban money laundering using cryptocurrencies, which Warren is developing, is being delayed due to a lack of sponsorship.
Source: Bits
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