According to the new anti-corruption strategy of the US authorities, the newly created agency will investigate complex cryptocurrency crimes.
American government
published a new anti-corruption strategy as one of the elements of US National Security. Within its framework, it is planned to create a task force to combat potential illegal activity on cryptocurrency exchanges and other services that can be used for money laundering and terrorist financing.
In an effort to strengthen enforcement of anti-money laundering (AML) regulations, as well as criminal and civil law, the US federal government plans to introduce new tools to investigate crimes related to money laundering through cryptocurrencies.
“The Department of Justice will use the newly created National Cryptocurrency Crime Group to focus on complex investigations and prosecutions of criminal abuse of cryptocurrencies.”
The Cryptocurrency Lawful Use Working Group is empowered to oversee crimes supported by cryptocurrency exchanges, mixers and participants in infrastructure that can be used for money laundering and terrorist financing. The Justice Department has also expanded the powers to subpoena overseas account holders, while at the same time establishing new disclosure requirements for beneficial owners of cryptocurrency companies. The ministry also plans to stimulate whistleblowers to exchange data that lead to the identification and seizure of illegal income, including in cryptocurrency.
In October, the US Department of Justice formed the National Cryptocurrency Enforcement Team. The group is looking for exchanges through which criminals can launder money in cryptocurrencies. The United States and the United Kingdom held a meeting last month to join forces to combat ransomware and cryptocurrency illegal use. Recently, the SEC chairman stated that bitcoin is hampering the US banking system in the fight against money laundering.
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