U.S. Congressman Elizabeth Warren asked about the drug control agency's progress in cracking down on cryptocurrency's relationship with fentanyl

U.S. Senator Elizabeth Warren has asked the Biden administration to provide an update on progress in restricting the use of cryptocurrencies in fentanyl trafficking. She, along with Senator Bill Cassidy, sent a letter to the White House Office of National Drug Control Policy and the Drug Enforcement Administration (DEA) requesting an update on "actions to combat drug traffickers' use of cryptocurrencies for business development and money laundering." The letter notes that cryptocurrencies have played an increasingly important role in the global fentanyl trade over the past decade, facilitating the manufacture and trafficking of fentanyl and laundering the proceeds of crime from drug syndicates. The US Treasury and federal law enforcement agencies have been pursuing networks and individuals involved in trafficking in fentanyl precursor chemicals. Warren last year suggested that laws are needed to shut down the use of digital assets in this area of the global drug trade.