Trump Administration's Designation of Cartels as Terrorist Organizations Raises Concerns for Crypto Industry
Written by Genny Ngai and Will Roth from Morrison Cohen LLP, the Trump administration has labeled drug and violent cartels as Foreign Terrorist Organizations (FTOs) and Specially Designated Global Terrorists (SDGTs) since taking office. President Trump's orders to eliminate these cartels pose a significant threat to the cryptocurrency industry, potentially leading to unintended consequences for the digital asset community. The recent legal action against cryptocurrency companies, such as Binance, for aiding terrorist groups highlights the need for vigilance and compliance with anti-terrorism laws in the industry. As drug cartels are now considered terrorist organizations, crypto companies should be prepared for potential lawsuits and ensure they are not inadvertently involved in illegal activities.
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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