The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) blacklisted the cryptocurrency addresses of three Chinese citizens and imposed sanctions on them, he said. The reason the government is doing this is because of the suspicion of money laundering and drug trafficking.
OFAC issued a statement that three individuals, Xiaobing Yan, Fujing Zheng, and Guanghua Zheng, were involved in drug trafficking and that all assets owned within the United States had been frozen, not only for their cryptocurrency addresses but also for e-mail addresses, citizenship numbers and passport information were also identified.
Fujing Zheng is allegedly a “major foreign narcotics smuggler” who has received considerable support from Guanghua Zheng. Yan is described as a “major narcotics smuggler” working on his own. A spokesperson for OFAC told the press:
“Fujing Zheng and Yan have sent hundreds of packaged synthetic opioids to the United States, targeting customers with online advertising and sales. Individuals even use commercial mail carriers to smuggle their own drugs into the United States.”
How to Block Bitcoin and Litecoin Addresses
In fact, the U.S. government has tried a similar incident for Iranian citizens before. Although it is impossible to ‘block’ or sanction decentralized cryptocurrencies such as Bitcoin or Litecoin, sanctions are imposed on persons who publish and receive any funds or funds that the United States implements if, of course, they are within reach of the United States.
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U.S. Blacklists Bitcoin {BTC} and Litecoin {LTC} Accounts of Three Chinese Citizens!
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