Finance News

Story: Trust Issues Created Over Cryptocurrency – Foreign Narcotics Kingpin Designation Act

By Steven Anderson

1 / 12

People are being put off from investing in digital assets.  BTC was high a couple of days ago and was trying to work its way towards $14,000 with a growing trading volume;…

2 / 12

The advance of Bitcoin was stopped in its tracks when the U.S. president stated the Bitcoin was based on “nothing but thin air.”

3 / 12

Senior financial analysts in the U.S. began linking a string of scandals and created trust issues over cryptocurrency.

4 / 12

The U.S. Treasury Department is beginning to tighten versus cryptocurrency addresses, which are associated with “Drug Kingpins.”

5 / 12

The Office of the Foreign Assets Control in the U.S. Treasury Department has listed three Chinese Nationals along with their cryptocurrency addresses.

6 / 12

Per the Foreign Narcotics Kingpin Designation Act, the U.S. Treasury Department has constituted different cryptocurrency addresses to its SDN list (Specially Designated Nationals).

7 / 12

Reportedly, Zheng and Yan have delivered several hundred packets of synthetic opioids to the U.S.

8 / 12

This is for the second time that the department is adding cryptocurrency addresses to its sanction list. The actions of OFAC looks consistent.

9 / 12

Steven Mnuchin, US Treasury Secretary, believes that Bitcoin will open its gates to more of such monetary crimes.

10 / 12

Several venture capitalists are making severe warnings about the Bitcoin.

11 / 12

Spencer Bogart, General Partner at a Venture Capital  Firm, stated, "When you think about really severe crises taking place, a liquidity crunch, another global financial…

12 / 12

Several indicators are also triggering alarm bells about a stall of the world economy.

The Currency Analytics

Want the full story?