The US Department of Justice has announced the creation of a National Cryptocurrency Enforcement and Investigation Team for digital finance crimes.
The agency has published target provisions for the police and the judiciary on cooperation and the role of law enforcement agencies in detecting, investigating and prosecuting criminal activities related to digital assets. They explain how law enforcement should deal with fraud in the under-regulated crypto-asset market.
“As digital assets play an increasingly important role in our global financial system, we must work in tandem with government departments and agencies to prevent and disrupt the use of these technologies to promote crime and undermine national security,” said Attorney General Merrick Garland. Garland).
This initiative includes the creation of a dedicated National Cryptocurrency Law Enforcement Group. The responsibilities of the new unit include oversight of compliance with crypto-currency legislation, assistance to the justice authorities in the field of investigations of crimes with digital finance, investigative actions and improvement of prosecution procedures.
The Ministry of Justice said that the National Group will focus on preventing and investigating crimes in the areas of illegal use of digital assets, the use of cryptocurrencies as a means of payment to finance criminal activities, and the use of crypto assets to hide illegal activities and deliberately undermine the digital asset market.
In August, the US Department of Justice sentenced two Californians to prison terms, whom the court found guilty of defrauding buyers of the DROP token for a total of $1.9 million.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
