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Welcome to Latam Insights, a compilation of the astir applicable crypto quality from Latin America implicit the past week. In this edition, OFAC sanctions Sinaloa Cartel’s crypto laundering group, the Venezuelan authorities shuts down a 4,000 ASIC mining farm, and Brazil’s Bradesco enters the crypto custody business.
Published: May 25, 2026, 2:30 AM
Key Takeaways
- OFAC sanctioned 6 radical laundering Sinaloa Cartel crypto, adjacent aiming to disrupt US illicit fentanyl flows.
- Venezuela dismantled 1 monolithic 4,000 ASIC crypto farm, redeeming 10,000 MW to stabilize its powerfulness grid.
- Entering the crypto market, Bradesco volition leverage its size to connection broad custody options.
US Sanctions Sinaloa Cartel Network for Laundering Drug Profits Through Cryptocurrency
On Wednesday, the U.S. authorities Office of Foreign Assets Control (OFAC) sanctioned six individuals and 2 companies owed to their engagement successful a wealth laundering strategy for the Sinaloa cartel, 1 of the largest drug-trafficking organizations linked to the fentanyl flows entering the country.
Armando de Jesus Ojeda Aviles is the caput of this network, which besides includes Jesus Alonso Aispuro Felix, Rodrigo Alarcon Palomares, Alfredo Orozco Romero, Amalia Margarita Romero Moreno, and Liliana Orozco Romero. Security institution Grupo Especial Mamba Negra and Gorditas Chiwas, a Mexican edifice based successful Chihuahua, were besides designated.
The designated are accused of organizing a strategy to cod bulk currency deliveries, a merchandise of the income of illicit drugs specified arsenic tentanyl, methamphetamine, and cocaine, including processing them and converting them into cryptocurrency to beryllium sent to the Sinaloa Cartel successful Mexico.
Venezuelan Government Shuts Down 4,000 ASIC Mining Farm
Venezuelan authorities found and dismantled a cryptocurrency megafarm with 4,000 ASICs, estimated to devour up to 10,000 MW, causing terrible interaction and structural harm to the vigor infrastructure successful the authorities of Aragua.
The operation, which had the collaboration of the quality constabulary (CICPC), follows respective measures the Venezuelan authorities is taking, upholding a prohibition connected crypto mining operations. Venezuela’s vigor depletion reached a 9-year precocious arsenic an ongoing vigor question has deed the deteriorated powerfulness grid, causing blackouts affecting the wide population.
Brazil’s Banking Giant Bradesco Enters the Crypto Custody Race
Bradesco, the second-largest slope successful Brazil with implicit 5,300 branches, announced past week that it volition participate the cryptocurrency custody business, enlisting an undisclosed partner.
Renata Petrovic, caput of innovation astatine the bank, revealed that the slope had internally created a operation focused connected integer assets and that these custody solutions would beryllium provided for the full cryptocurrency spectrum.
“We are preparing to person a integer plus custody business; we already person a spouse who volition enactment with us, providing broad custody for each assets, including tokens, crypto, and stablecoins,” Petrovic stated.
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