US Department of Justice Forms New Crypto Unit

US Department of Justice Forms New Crypto Unit

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The US Department of Justice has announced the creation of a new cryptocurrency enforcement team, as well as an additional upcoming team dedicated to virtual assets. According to the official statement made by the FBI, the new team will work closely with the National Cryptocurrency Enforcement Team.

The role first director of the new team has been appointed to prosecutor Eun Young Choi, who has previously worked on cyber related crimes. “The department has been at the forefront of investigating and prosecuting crimes involving digital currencies since their inception,” Choi said in a statement.

“The NCET will play a pivotal role in ensuring that as the technology surrounding digital assets grows and evolves, the department in turn accelerates and expands its efforts to combat their illicit abuse by criminals of all kinds. I am excited to lead the NCET’s incredible and talented team of attorneys, and to get to work on this important priority for the department.”

The cryptocurrency enforcement team will focus on challenges posed by the criminal misuse of cryptocurrencies and digital assets. The team will also be comprised of attorneys from across the department including prosecutors with backgrounds in cryptocurrency, cybercrime, money laundering and forfeiture.

The team will work in collaboration with others across the department, including the new FBI team dedicated to cryptocurrency.

The FBI’s new Virtual Asset Exploitation Unit will be made up of cryptocurrency experts to help provide analysis, support and training across the FBI. The team will also innovate its cryptocurrency tools to stay ahead of future threats, according to the department.

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