Elizabeth Warren Wants To Stop Crypto-Funded Fentanyl
US Senator Elizabeth Warren called for a stop to crypto-funded fentanyl manufacture at a Senate hearing on Wednesday. According to the investigation, over 90 Chinese firms that provide fentanyl precursors accept cryptocurrency payments. After that, in evidence at the hearing, US Treasury Department Assistant Secretary Elizabeth Rosenberg acknowledged the link between illegal trade and digital assets. Moreover, Rosenberg said that payments in cryptocurrency is “appealing” to Chinese pharma producers, citing Elliptic research.
Overdoses using fentanyl have become the main cause of death in the United States for those aged 18 to 45. Chemicals required to make the hazardous drug are often imported from China and travel over numerous countries on their way to U.S. consumers of the synthetic opioid, which the Drug Enforcement Agency (DEA) claims are 100 times more strong than morphine. As Coincu reported, three US conservative groups oppose Republican Senators Roger Marshall, Warren, and Chris Van Hollen’s efforts on digital asset legislation. Warren said that the Digital Assets Anti-Money Laundering Act might aid in the abolition of the disease. She then said that the proposal would be reintroduced in Congress.
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