US Creates National Cryptocurrency Enforcement Team
The United States Department of Justice (DOJ) has formed a new task force to oversee complex investigations and prosecutions of criminal misuses of crypto-currency.
The creation of a National Cryptocurrency Enforcement Team (NCET) was announced yesterday by Deputy Attorney General Lisa Monaco.
"Today we are launching the National Cryptocurrency Enforcement Team to draw on the Department’s cyber and money laundering expertise to strengthen our capacity to dismantle the financial entities that enable criminal actors to flourish – and quite frankly to profit – from abusing crypto-currency platforms,” said Monaco in a statement dated October 6.
She added that the DOJ was "poised to root out abuse on these platforms and ensure user confidence in these systems.”
The DOJ's Office of Public Affairs said that the team's focus would be on criminal acts committed by virtual currency exchanges, money laundering infrastructure actors, and mixing and tumbling services.
Working under the supervision of Assistant Attorney General Kenneth Polite Jr., NCET will also assist in tracing and recovering assets lost to fraud and extortion, including crypto-currency payments to ransomware gangs.
NCET will also train and advise federal prosecutors and law enforcement agencies in developing investigative and