US Treasury Flags Bitcoin, Ethereum Linked To Chinese Fentanyl Trade — Elizabeth Warren Proposes A Solution
Portfolio Pulse from Mehab Qureshi
The US Treasury's Office of Foreign Assets Control (OFAC) has flagged a group of cryptocurrency wallets linked to the illegal fentanyl trade, primarily based in China. The flagged entities include five individuals and one company, Valerian Labs. The wallets received nearly $3.8 million in cryptocurrency across Bitcoin, Ethereum, and Tron networks. Senator Elizabeth Warren has proposed a bill to crack down on crypto funding crimes. Bitcoin's price is down 0.50% in the last 24 hours.
October 06, 2023 | 4:07 am
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NEGATIVE IMPACT
Bitcoin's price is down 0.50% in the last 24 hours, potentially due to the US Treasury's actions against wallets linked to the illegal fentanyl trade.
The US Treasury's actions against wallets linked to the illegal fentanyl trade could be causing uncertainty among Bitcoin investors, leading to a decrease in Bitcoin's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ethereum could be impacted by the US Treasury's actions against wallets linked to the illegal fentanyl trade.
The US Treasury's actions against wallets linked to the illegal fentanyl trade could be causing uncertainty among Ethereum investors, potentially impacting Ethereum's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80