US Department of Justice to create a unit to combat crimes in the cryptocurrency market

The US Department of Justice announced the creation of a unit to combat crimes in the cryptocurrency market, whose responsibilities, among other things, will include the seizure of proceeds from illegal activities. About it reported publication of The Wall Street Journal, citing the words of the Deputy Attorney General of the United States Lisa Monaco (Lisa Monaco).

Image: CoinGape

Image: CoinGape

According to reports, the new unit will be headed by Assistant Attorney General Kenneth Polite Jr. The service will focus on investigating crimes committed by cryptocurrency exchanges and related services used by cybercriminals to move virtual funds. The unit will also help track and recover digital assets lost through fraud or extortion. The new division will include specialists from the US Department of Justice’s Anti-Money Laundering and Asset Recovery Division, the Cybercrime Division, and other divisions.

According to Lisa Monaco, the new service will expand the possibilities of the Ministry of Justice in terms of “Liquidation of financial institutions that allow criminal actors who profit from the abuse of cryptocurrency platforms to flourish”“The department must evolve with technology to be prepared to prevent abuse of platforms and ensure that users have more confidence in these systems.”– says Ms. Monaco.

Note that the US Department of Justice already has experience in investigating cryptocurrency crimes. For example, in August of this year, American Larry Dean Harmon, who was the operator of the bitcoin mixer (a tool to conceal the source of received virtual assets) Helix, was convicted of money laundering. Representatives of the department managed to prove that the service created by Harmon was used to conduct illegal operations with cryptocurrency and prevented their tracking.


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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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