The US Treasury Department sanctions drug trafficking networks that use cryptocurrency for money laundering

According to Bloomberg, the US Treasury Department has imposed sanctions on Armando de Jesus Ojeda Aviles and his accomplices of the Sinaloa drug trafficking group, accusing them of transferring drug trafficking proceeds to Mexico through cryptocurrency. The Ministry of Finance stated that the network utilizes American couriers to collect cash and complete transfers through digital currency addresses. In addition, in April 2024, a federal grand jury in Colorado indicted his accomplice Rodrigo Alarcon Palomares on charges of involvement in laundering drug proceeds.