Lately, digital currencies have increasingly been making the news for being associated with drug cartels. The objective of the adoption of cryptocurrencies by many Mexican drug cartels is for the purpose of money laundering and selling drugs.

A media organization reported on Twitter about the increasing use of cryptocurrencies, particularly Bitcoin in Mexican drug cartels. 

https://twitter.com/Krypto_Deutsch/status/1502556548706488320
<h2>How Do Cartels Incorporate Cryptocurrencies?</h2>
The International Narcotics Control Board on March 10, 2022, reported two drug cartels in Mexico that are believed to be involved in $25 Billion worth of <a href="https://www.cryptoknowmics.com/news/leaked-data-of-swiss-bank-credit-suisse-reveals-clients-accused-of-money-laundering/">money laundering</a> and online purchases of Bitcoin (BTC). 

At first, the drug proceedings are divided into small payments to avoid money laundering controls. Then these cartels purchase small amounts of Bitcoin and conceal the origin of money. Thereafter, these payments are transferred to associates across the globe. 

Cryptocurrency has become a boon to these organized criminal groups. The two major features that make cryptocurrency valuable are the anonymity and speed of transactions.

Drug Cartels Increasingly Use Cryptocurrency

It has been reported that many drug cartels have adopted the use of cryptocurrencies to sell drugs and launder money.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Drug Cartels Increasingly Use Cryptocurrency

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