According to Bloomberg, the U.S. Treasury Department has announced sanctions against an individual accused of laundering money for the Sinaloa drug cartel and their associated network. The Treasury’s Office of Foreign Assets Control (OFAC) stated that the network allegedly used cryptocurrency channels to transfer proceeds from the sale of fentanyl, cocaine, and methamphetamine back to Mexico, relying on cash couriers within the U.S. and digital currency addresses to complete the transfers. Documents also reveal that Rodrigo Alarcon Palomares was indicted by a federal grand jury in Colorado in April 2024 for allegedly laundering drug proceeds through cryptocurrency. https://(wublock123.com)/news/us-treasury-sanctions-cocaine-network-money-laundering-via-crypto-sinaloa-61414