US Treasury Sanctions Bitcoin, Litecoin Addresses Under Kingpin Act

The United States Department of the Treasury has added multiple cryptocurrency addresses to its Specially Designated Nationals (SDN) list under the Foreign Narcotics Kingpin Designation Act, or the Kingpin Act. These addresses, and the individuals associated with them, have been deemed to be associated with foreign narcotics operators. The Treasury updated its SDN list with recent Kingpin Act Designations on Aug 21. The three alleged narcotic operators associated with these addresses are Chinese citizens Xiaobing Yan, Fujing Zheng and Guanghua Zheng. The three individuals all have associated Bitcoin (BTC) addresses…

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