Home News Bitcoin US White House Plans to Take Down Illegal Drugs; Targets Crypto

US White House Plans to Take Down Illegal Drugs; Targets Crypto

August 23, 2019 13:57
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Washington DC
White House of United States
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The United States White House issued a circular stating that it was all set to shutting down illegal opioids that are being sold over the darkweb. While that is fantastic news, the saddening bit is that the circular also targeted cryptocurrencies.

The circular said, “Fentanyl and other synthetic opioids are marketed on social media platforms, e-commerce websites, mobile apps, and online forums. Law enforcement successes have prompted vendors to market fentanyl and other synthetic opioids with coded language.” The statement further stated, “Criminals may also advertise Darknet marketplace .onion5 URLs or links to foreign-based e-commerce websites that sell synthetic opioids on Clearnet platforms, along with step-by-step guides explaining how to access these websites and obtain the virtual currency needed to make purchases.”

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The circular stated that what made the issue all the more serious is, “Illicit buyers can mask their identities and geographic locations by using the Tor network, employing encrypted communications and purchasing goods and services with virtual currency that may enhance their anonymity, without having to leave their homes.”

This is not at all surprising given that the President of the United States Donald Trump and by extension, the White House, is very vocal about their anti-crypto stance.

Last month, during the war of words between Libra and the US Congress was in full force, Trump had said, “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….”

Further he had stated, “….Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National…”

Citing case studies, the circular stated that Joint Criminal Opioid and Darknet Enforcement (JCODE) team built upon the the successful Silk Road (2013) and AlphaBay (2017) investigations, the JCODE team’s agents, analysts, and professional staff with expertise in transnational organized crime, virtual currency, money laundering, cyber-enabled crime, drugs, gangs, and health-care fraud work to disrupt the sale of drugs via hi-tech platforms and dismantle criminal enterprises.

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