Adding to the turmoil in the cryptocurrency industry over the past year, the Justice Department has been more actively pushing criminal enforcement actions around cryptocurrency and other digital assets. For observers of regulatory activity in this space, the DOJ’s priorities come as no surprise. Announcements in the past year by the White House and the DOJ point in the direction that resources for digital asset enforcement are only going to increase, and with it, more prosecutorial firepower aimed at bad behavior in the cryptocurrency industry. DOJ and White House enforcement priorities are increasing risks for financial institutions involved in transmission of digital assets, prompting in-house departments to stay ahead of the compliance march. On Sept. 16, 2022, the DOJ announced a new nationwide digital asset coordinator network of federal prosecutors as part of its response to President Joe’s Biden’s March 2022 executive order. This network will comprise more than 150 federal prosecutors in US Attorney’s offices nationwide and at various DOJ offices in Washington, D.C. These experts will develop best practices for investigating and prosecuting suspected digital assets-related crime.
Read more : Crypto Actors Face Increased Enforcement Spurred by DOJ Network.
