Elizabeth Warren and Bill Cassidy cited research from analytics group Elliptic last year. Analysts found that 81 Chinese companies supplying fentanyl precursors received almost $30 million in cryptocurrency.
The number of opioid overdose deaths nearly quadrupled from 2010 to 2022 (from 21,000 to 81,800). Fatal outcomes from the use of fentanyl and its analogues have increased by 56% over three years, the senators' letter says. Warren and Cassidy are awaiting a response by June 14.
Warren insists that cryptocurrencies are used not only for drug trafficking, but also for financing terrorism, and refers to an article by the Wall Street Journal. WSJ journalists claimed that Islamic Jihad militants and Hamas terrorists received funding in cryptocurrencies through the Russian exchange Garantex. Later, the management of the exchange denied participation in financing terrorists.
In February, Elizabeth Warren called for support for her bill to combat money laundering through cryptocurrencies. The project was criticized by members of the crypto industry for not taking into account the nuances of the work of industry companies and hindering the development of innovation in the United States.
Source: Bits
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