A recent report by the U.S. Financial Crimes Enforcement Network (FinCEN) has revealed that American banks processed a staggering $312 billion in suspicious transactions related to Chinese money laundering networks between 2020 and 2024. While these funds primarily benefited Mexican drug cartels, traditional banking systems are implicated in facilitating illicit activities, raising concerns about financial system vulnerabilities. FinCEN identified key players like the Chinese Money Laundering Networks (CMLNs), which utilized shell companies and money mules to exploit U.S. institutions. Despite this major activity in the traditional finance sector, cryptocurrencies remained largely unaffected by these findings. Notably, no recent crypto-related transactions such as those involving Ethereum or Bitcoin have been linked to these operations. The report highlights that American banks, despite managing vast volumes exceeding those in the cryptocurrency market, are now implementing measures to improve transparency and compliance. Experts recommend strengthening global cooperation and transaction monitoring to address this concerning issue.