DOJ Launches Network of 150+ Federal Prosecutors to Combat Criminal Uses of Crypto – Regulation Bitcoin News

The US Department of Justice (DOJ) has established the National Digital Asset Coordinators Network made up of over 150 federal prosecutors. The authority explained that the new network will continue its “efforts to combat the growing threat posed by the illicit use of digital assets to the American public.”

US Government Digital Asset Coordinator Network

The U.S. Department of Justice (DOJ) announced on Friday that its Criminal Division has created the National Digital Asset Coordinators (DAC) Network.

The Department of Justice noted that the launch of the DAC network is “an extension of the department’s efforts to combat the growing threat posed by the misuse of digital assets to the American public,” stating:

Led by the department’s National Cryptocurrency Enforcement Team (NCET), the DAC network includes more than 150 designated federal prosecutors drawn from the department’s US law offices and litigation components.

The DOJ added that the DAC Network will serve as the primary forum for prosecutors to obtain and disseminate specialized training, technical expertise, and advice on the investigation and prosecution of digital asset crimes.

Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division said developments in digital assets “have created a new landscape for criminals to exploit innovation to aggravate criminal and security threats. national importance at home and abroad”. He described:

Through the creation of the DAC Network, the Criminal Division and the National Cryptocurrency Enforcement Team will continue to ensure that the department and its prosecutors are in the best position to combat the ever-changing criminal uses of technology. digital assets.

The DOJ launched the National Cryptocurrency Enforcement Team in October last year “to tackle the complex investigations and prosecutions of criminal cryptocurrency abuses, particularly crimes committed by cryptocurrency exchanges. virtual currencies, mixing and tumbling services and money laundering infrastructure players”.

Members of the DAC Network will learn “the application of existing authorities and laws to digital assets and best practices for investigating crimes related to digital assets”. They include drafting search and seizure warrants, restraining orders, criminal and civil forfeiture actions, indictments and other legal process, the DOJ detailed, adding:

The DAC Network will also serve as a source of information and discussion on emerging digital asset issues, such as the challenge [decentralized finance]smart contracts, token-based platforms and their use in criminal activities.

Additionally, the DAC Network will “raise awareness of the unique international considerations of the crypto ecosystem, including the benefits of leveraging foreign relationships and the challenges of cross-border digital asset investigations,” the Justice Department noted.

What do you think of the DOJ’s creation of the National Digital Asset Coordinators Network with over 150 federal prosecutors to combat the misuse of crypto? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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