DOJ to Launch National Crypto Enforcement Team: Report

U.S. Deputy Attorney General Lisa Monaco unveiled the initiative during a virtual speech at the Aspen Cyber Summit on Wednesday.

Oct 6, 2021 at 4:50 p.m. UTC
Updated Oct 6, 2021 at 6:21 p.m. UTC

Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.

The Department of Justice (DOJ) is launching a crypto crime-fighting team, the National Cryptocurrency Enforcement Team, according to a report from Reuters.

  • In a speech at the Aspen Cyber Summit on Wednesday, U.S. Deputy Attorney General Lisa Monaco announced the formation of the new team, which will be composed of anti-money laundering professionals and cybersecurity experts.
  • The team will focus on helping the DOJ better protect consumers from online financial crime, according to the Reuters article.
  • “Cryptocurrency exchanges want to be the banks of the future. Well, we need to make sure that folks can have confidence when they’re using these systems and we need to be poised to root out abuse,” Reuters quoted Monaco as saying. “The point is to protect consumers.”
  • Monaco also announced the formation of an initiative that will focus on civil cyber fraud.
  • This initiative will bring enforcement actions against companies that receive government funding when they fail to follow governmental recommendations for cybersecurity standards.
  • The DOJ did not immediately respond to requests for comment.

This is a developing story and will continue to be updated.




The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.

CoinDesk - Unknown

Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.

Trending

1
CoinDesk - Unknown
Regulate Ledgers and Not Individual Crypto Providers, BIS Study Says

To make cross-border payments easier, you need to change your whole way of thinking, the authors of the BIS study found.

To make cross-border payments easier, you need to change your whole way of thinking, the authors of the BIS study found.

CoinDesk - Unknown
2
CoinDesk - Unknown
Goldman Sees Little US Economic Impact From Lower Cryptocurrency Prices

The stock market decline has had a much larger effect on U.S. household net worth, the bank said.

The stock market decline has had a much larger effect on U.S. household net worth, the bank said.

CoinDesk - Unknown
3
CoinDesk - Unknown
UK Regulator to Consider Terra Coins Collapse in New Crypto Rules: Report

Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.

Market instability in stablecoins will need to be taken into account, the FCA's executive director for markets said.

CoinDesk - Unknown
4
CoinDesk - Unknown
Bitcoin Options Data Suggests Bearish Sentiment Among Investors

Put/call ratio for Bitcoin options reached yearly highs on Thursday, data shows.

Put/call ratio for Bitcoin options reached yearly highs on Thursday, data shows.

CoinDesk - Unknown