DailyCoin
Published Feb 18, 2022 07:06AM ET
Updated Feb 18, 2022 07:30AM ET
FBI Forms National Cryptocurrency Enforcement Team, Crypto Regulations are Coming Up
As digital assets are quickly evolving and the DeFi industry is spreading, criminals are quick to exploit the technology vulnerabilities, thus cyber attacks and ransomware are a frequent occurrence.
Some of the crimes involving cryptocurrencies involve “traffic in narcotics, hacking tools and illicit contraband online; commit thefts and scams; and launder the proceeds of their crimes,” the Department of Justice wrote.
Justice Department is forming a new digital currency unit and announces the national cryptocurrency enforcement team (NCET) with its first director Eun Young Choi. Until now, Ms. Choi served as a Senior Counsel to the Deputy Attorney General, working in the department for almost a decade. She is an accomplished leader in tackling crypto scams and cybercrime.
The main purpose of NCET is to address the rapidly growing crime around digital assets and distributed ledger technologies, not only in the U.S. but around the world:
“The NCET will identify, investigate, support and pursue the department’s cases involving the criminal use of digital assets, with a particular focus on virtual currency exchanges, mixing and tumbling services, infrastructure providers, and other entities that are enabling the misuse of cryptocurrency and related technologies to commit or facilitate criminal activity.”
On the Flipside
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.