Treasury Targets Crypto: Sanctions Reveal Worldwide Network of Illegal Finance
- U.S. Treasury sanctions Canadian Olympian Ryan Wedding for leading a global drug network, designating 9 individuals/entities and cryptocurrency addresses linked to Bitcoin/Ethereum. - Actions target cross-border illicit finance, including Indian firms aiding Iran's oil trade and UK crypto networks laundering funds for Russian oligarchs/military suppliers. - Crackdown aligns with national security priorities, blocking crypto mining near nuclear sites and blacklisting Chinese AI firms tied to Huawei, while
The U.S. Treasury has imposed sanctions on Ryan James Wedding, a former Canadian Olympian, for allegedly heading an international drug smuggling operation, adding nine people and nine organizations to the Specially Designated Nationals (SDN) list. Announced on November 21, the sanctions also target several cryptocurrency wallets associated with blockchain platforms such as
This action is part of a broader U.S. initiative to address illegal financial activities involving cryptocurrencies. In the previous month, the Treasury also sanctioned Indian individuals and businesses for their roles in facilitating Iran’s oil trade,
The Trump administration’s efforts to curb illegal activities tied to crypto have coincided with industry campaigns to influence policy.
Treasury Secretary Scott Bessent has also made national security risks associated with digital assets a top priority.
The administration’s recent proposals also include limiting tax credits for immigrant taxpayers.
As the United States refines its cryptocurrency policies, the intersection of sanctions enforcement, regulatory advocacy, and security concerns underscores the growing geopolitical importance of the digital asset sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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