US Sanctions Target Sinaloa's Crypto Laundering Network
— Bitcoin.com
US sanctions target Sinaloa's crypto laundering, Venezuela shuts down mining farm.
US sanctions target Sinaloa Cartel's crypto laundering network, while Venezuela shuts down a 4,000 ASIC mining farm.
- OFAC sanctioned Sinaloa Cartel's network for laundering drug money via crypto, impacting its financial operations.
- Venezuela closed a large crypto mining farm with 4,000 ASICs due to energy consumption and regulatory pressures.
- Brazil's Bradesco bank enters the crypto space by offering custody services for digital assets.
OFAC sanctions increase regulatory pressure on crypto laundering activities.