As Government Crypto Control Expands, DOJ Forms Dedicated Enforcement Unit

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Angela Lang / CNET

As the U.S. government continues to expand its scrutiny of cryptocurrency, the Department of Justice has developed a new unit dedicated to its policing. The National Cryptocurrency Enforcement Team, presented on Thursday by Deputy Attorney General Lisa O. Monaco, will investigate and prosecute “criminal abuses of cryptocurrency, in particular crimes committed by virtual currency exchanges, mix-and-tumble services and money laundering infrastructure players “.

NCET will draw on the expertise of the Money Laundering and Asset Recovery Section of the DOJ Criminal Division, its Computer Crime and Intellectual Property Section and other sections within the Department. the criminal division of DOJ.

“As the technology advances, the Department must also evolve with it so that we are ready to eliminate abuse on these platforms and ensure user confidence in these systems,” Monaco said in the announcement.

Read more: The History of Ransom and Cryptocurrency Hacking

The announcement details the crypto-criminal activities of most interest to the government, including ransomware payments, money laundering and illegal money services, as well as the use of cryptocurrencies in “dark markets.” to pay for illegal drugs, weapons and hacking tools. The ad does not include staff or budget details. The DOJ did not immediately respond to a request for comment.

The launch of NCET comes in the wake of US Treasury sanctions against SUEX, a Russian crypto exchange he accused of “making financial transactions easier for ransomware players.”

MLAR’s Digital Currency Initiative was established in 2018 to focus on cybercrime investigations. Its mission was to expand the expertise and ability of the DOJ to investigate illicit cryptocurrency activity. NCET can be seen as the next phase of this effort.

Read more: Cryptocurrency Pumping & Dumping Systems: Everything You Need To Know About These Scams

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