US Treasury Targets Crypto Addresses of Alleged Narcotics Traffickers

Cointelegraph

Published Aug 21, 2019 03:41PM ET

Updated Aug 21, 2019 07:21PM ET

US Treasury Targets Crypto Addresses of Alleged Narcotics Traffickers

The United States Department of the Treasury has added multiple cryptocurrency addresses to its Specially Designated Nationals (SDN) list under the Foreign Narcotics Kingpin Designation Act, also known as the Kingpin Act. These addresses, and the individuals associated with them, have been deemed to be associated with foreign narcotics operators.

The Treasury updated its SDN list on Aug. 21. The three alleged narcotic operators associated with these addresses are Chinese citizens Xiaobing Yan, Fujing Zheng and Guanghua Zheng. The three individuals all have associated Bitcoin (BTC) addresses mentioned on the SDN list, and Guanghua Zheng additionally has a Litecoin (LTC) address.

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