The Department of Justice (DOJ) logo is pictured on a wall after a news conference in New York December 5, 2013.
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November 30, 2021 – Since its inception, cryptocurrency has been the subject of hot debate. Proponents of more widespread use and investment see tremendous potential for a decentralized but secure medium of exchange with untold implications for global finance. Detractors instead argue that cryptocurrency is highly volatile, inconvenient, and designed to facilitate illegal conduct. One thing all can agree on, however, is that the U.S. Department of Justice (DOJ) is sharpening its focus on combatting cryptocurrency-related crimes.
In October 2021, the DOJ took a major step to address concerns about cryptocurrency’s susceptibility to abuse. On Oct. 6, 2021, Deputy Attorney General Lisa Monaco announced the creation of the National Cryptocurrency Enforcement Team (NCET) to spearhead complex investigations and prosecutions of criminal misuses of cryptocurrency and to recover the illicit proceeds of crimes facilitated by cryptocurrency.
The new team will combine the know-how from various units within DOJ’s criminal division with the most relevant experience, namely, the Money Laundering and Asset Recovery Section and the Computer Crime and Intellectual Property Section (CCIPS), along with prosecutors from U.S. Attorney offices across the country who have developed cryptocurrency-related expertise.
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