Financial safety

Chinese Drug Kingpins Use Bitcoin, According to U.S. Treasury

The U.S Department of the Treasury is reporting that it is coordinating actions to place additional financial pressure on Chinese drug kingpins. These mafia-like groups are said to be responsible for a large portion of synthetic opioids in the U.S. and use Bitcoin to avoid reporting and currency restrictions.

The U.S. Department of the Treasury is targeting an international drug trafficking operation which manufactures and sells lethal narcotics. Fujing Zheng is one of the Chinese nationals currently under economic restrictions, who controls both the Zheng DTO narcotics racket and Qinsheng Pharmaceutical Co. Ltd. Xiaobing Yan is another major player in the criminal enterprise.