{"id":12922,"date":"2021-10-07T01:54:17","date_gmt":"2021-10-07T01:54:17","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/us-launches-national-cryptocurrency-enforcement-team-to-prosecute-criminal-misuses-of-cryptocurrency\/"},"modified":"2021-10-07T01:54:17","modified_gmt":"2021-10-07T01:54:17","slug":"us-launches-national-cryptocurrency-enforcement-team-to-prosecute-criminal-misuses-of-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/us-launches-national-cryptocurrency-enforcement-team-to-prosecute-criminal-misuses-of-cryptocurrency\/","title":{"rendered":"US Launches National Cryptocurrency Enforcement Team to Prosecute \u2018Criminal Misuses of Cryptocurrency\u2019"},"content":{"rendered":"

The U.S. has launched the National Cryptocurrency Enforcement Team, an initiative of the Department of Justice (DOJ), to tackle and prosecute \u201ccriminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering.\u201d U.S. Deputy Attorney General Lisa Monaco said, \u201cThe point is to protect consumers.\u201d<\/strong><\/p>\n

DOJ\u2019s New Crypto Enforcement Initiative<\/h2>\n

U.S. Deputy Attorney General Lisa Monaco announced the creation of a National Cryptocurrency Enforcement Team (NCET) during a virtual speech at the Aspen Cyber Summit Wednesday.<\/span><\/p>\n

The aim of the initiative is \u201c<\/span>to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors,\u201d the Department of Justice subsequently detailed. \u201cThe team will also assist in tracing and recovery of assets lost to fraud and extortion, including cryptocurrency payments to ransomware groups.\u201d<\/p>\n

Monaco was quoted as saying:<\/p>\n

We are today launching the National Cryptocurrency Enforcement Team. We won\u2019t hesitate to go after laundering platforms and are drawing on cyber experts and prosecutors, and money laundering experts.<\/p>\n

The goal of the National Cryptocurrency Enforcement initiative is to \u201cstrengthen\u201d the ability of the Department of Justice (DOJ) to disable financial markets that allow cybercriminals to \u201cflourish.\u201d The team will include anti-money laundering and cybersecurity experts.<\/p>\n

Monaco said:<\/p>\n

Cryptocurrency exchanges want to be the banks of the future. Well, we need to make sure that folks can have confidence when they\u2019re using these systems and we need to be poised to root out abuse. The point is to protect consumers.<\/p>\n

The deputy attorney general also announced another DOJ initiative Wednesday. The new civil cyber fraud initiative will \u201cuse civil enforcement tools to pursue companies, those who are government contractors, who receive federal funds, when they fail to follow recommended cybersecurity standards,\u201d she detailed. \u201cFor too long, companies have chosen silence under the mistaken belief that it\u2019s less risky to hide a breach than to bring it forward and report it. That changes today.\u201d<\/p>\n

Last week, President Joe Biden said<\/a> that the U.S. was bringing together 30 countries this month to tackle cybercrime issues, including the \u201cillicit use of cryptocurrencies.\u201d<\/p>\n

What do you think about the DOJ launching the National Cryptocurrency Enforcement Team? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, crypto exchanges, Deputy Attorney General, DOJ, laundering platforms, Lisa Monaco, Lisa Monaco bitcoin, Lisa Monaco crypto, Lisa Monaco cryptocurrency, Money Laundering, us attorney general<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. has launched the National Cryptocurrency Enforcement Team, an initiative of the Department of Justice (DOJ), to tackle and prosecute \u201ccriminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering.\u201d U.S. Deputy Attorney General Lisa Monaco said, \u201cThe point is to protect consumers.\u201d DOJ\u2019s New Crypto…<\/p>\n","protected":false},"author":0,"featured_media":12923,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12922"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12922"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12923"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}