The U.S. Treasury Department has sanctioned a drug dealer who used cryptocurrency to launder money.

CoinFeed reported on May 21 that, according to Bloomberg, the U.S. Treasury Department announced sanctions against an operator of the Sinaloa Cartel, accusing him of using cryptocurrency to launder drug trafficking proceeds back to Mexico. The Treasury Department's Office of Foreign Assets Control stated that the sanctioned individuals are Armando de Jesus Ojeda Aviles and several associates who laundered fentanyl, cocaine, and methamphetamine sales revenue for the Sinaloa Cartel. The network relied on couriers within the United States to collect cash and transferred funds through digital currency addresses. In April 2024, a federal grand jury in Colorado indicted another Ojeda associate, Rodrigo Alarcon Palomares, accusing him of laundering drug proceeds using cryptocurrency.