US Treasury Sanctions Sinaloa Cartel Associates Over Crypto Money Laundering
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The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned individuals and entities tied to the Sinaloa Cartel for laundering fentanyl and other narcotics proceeds through blockchain and cryptocurrency networks. The action, announced in a Treasury press release, targets schemes funneling illicit profits back to Mexico and underscores rising regulatory scrutiny of crypto-based money laundering. This enforcement increases compliance and security pressure on exchanges, DeFi protocols and other crypto services and could drive tighter controls across the ecosystem.
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The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has enforced sanctions against individuals and entities linked to a Mexican cartel that is trafficking illicit drugs and laundering the proceeds through cryptocurrency networks.
According to a press release from the Treasury, these individuals and entities lead networks that launder the proceeds of fentanyl and other narcotics trafficking activities for the Sinaloa Cartel. The laundering schemes funnel the profits back to Mexico through blockchain networks.
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