DOJ Introduces National Crypto Enforcement Team

Please note, this is a summary to the article previously published on PYMNTS.com.

  • Cryptocurrency crimes are under the microscope as the U.S. Department of Justice (DOJ) steps up enforcement efforts with the formation of the National Cryptocurrency Enforcement Team (NCET), according to a press release on Thursday (Oct. 7).
  • The DOJ said that crimes involving crypto vary a great deal, which means that NCET will not only go after its own cases but will also assist with current and future matters nationwide across the Criminal Division and in the U.S. Attorneys’ Offices. The NCET will also collaborate with other federal agencies, subject matter experts and other government law enforcement partners.
  • Deputy Attorney General Lisa O. Monaco said that NCET will enforce laws surrounding “criminal misuses of cryptocurrency,” with a closer look into crimes committed by digital currency exchanges, “mixing and tumbling services,” and infrastructure related to money laundering.
  • NCET brings together the unique talent and special expertise from the DOJ Criminal Division’s Money Laundering and Asset Recovery Section (MLARS), and Computer Crime and Intellectual Property Section (CCIPS). Members will also come from other sections in the division as well as from experts from U.S. Attorneys’ Offices. The team will also assist with tracking down assets lost to fraud and extortion, which includes ransomware payments.