Elizabeth Warren Brings Up Crypto Use In Fentanyl Trade, Says Enough To 'Kill 9 Billion People'
Portfolio Pulse from Mehab Qureshi
Senator Elizabeth Warren emphasized the role of crypto in fentanyl drug transactions during a Senate Banking Committee meeting, urging for the enactment of the Digital Asset Anti-Money Laundering Act. The bill aims to close loopholes in anti-money laundering rules and prevent drug suppliers and cartels from using crypto for illegal business. Warren cited a report stating that 90 Chinese suppliers traded enough precursor drugs in exchange for crypto to produce $54 billion worth of fentanyl pills.
June 01, 2023 | 5:43 am
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Senator Elizabeth Warren's push for the Digital Asset Anti-Money Laundering Act could lead to increased regulation on cryptocurrencies like Bitcoin, potentially affecting its price.
Senator Warren's emphasis on the role of cryptocurrencies in illegal drug transactions and her push for the Digital Asset Anti-Money Laundering Act could lead to increased regulation on cryptocurrencies like Bitcoin. This may result in a negative short-term impact on Bitcoin's price as investors may become more cautious due to the potential for increased scrutiny and regulation.
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