US Treasury Department Tightens Against Cryptocurrency Addresses Associated With Chinese…

The U.S. Treasury Department’s Office of Foreign Assets Control has enlisted three Chinese nationals and their cryptocurrency addresses, alleging they violated money laundering and drug smuggling laws.

The United States Treasury Department has constituted different cryptocurrency addresses associated to its Specially Designated Nationals (SDN) list as per the Foreign Narcotics Kingpin Designation Act, which also commonly addressed as the Kingpin Act. These addresses and the individuals that link them have been claimed to be associated with foreign narcotics superintendent.

On August 21, the Treasury revamped its SDN list. The three accused narcotic operators linked with these addresses.

Naming Xiaobing Yan, Fujing Zheng, and Guanghua Zheng. All of the three are of Chinese origin and are deemed to be associated with addresses that are present on the SDN list. Guanghua Zheng has one another address for Litecoin.

Sigal Mandelker, Under Secretary for Terrorism and Financial Intelligence,…