DOJ looks to increase crypto investigations with move to merge teams

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By BitcoinWiki News

Key Takeaways:

– The U.S. Department of Justice plans to expand efforts to go after cryptocurrency-related crimes.
– The National Cryptocurrency Enforcement Team (NCET) is being merged into the Computer Crime and Intellectual Property Section (CCIPS).
– The merger will double the number of criminal division attorneys available for crypto matters.
– The move recognizes the intertwining nature of cryptocurrency work and cyber prosecutions.
– NCET was launched in October 2021 to focus on money laundering and cybercrime.
– Recent enforcement actions include Bitzlato and Avraham Eisenberg.
– Claudia Quiroz will serve as the acting director of NCET, replacing Eun Young Choi.
– Choi will continue to work at the DOJ.
– The article is for informational purposes only and does not provide legal, tax, investment, financial, or other advice.

The U.S. Department of Justice (DOJ) is planning to expand its efforts to combat cryptocurrency-related crimes by integrating a dedicated cryptocurrency team into its existing computer crime division. The merger between the National Cryptocurrency Enforcement Team (NCET) and the Computer Crime and Intellectual Property Section (CCIPS) aims to provide additional resources and double the number of criminal division attorneys working on crypto matters.

According to Nicole Argentieri, the department’s principal deputy assistant attorney general, the merger will enable the crypto enforcement team to achieve even more success. The NCET, established in October 2021, primarily focused on combating money laundering and cybercrime. One of its notable enforcement actions resulted in taking legal action against crypto exchange Bitzlato for allegedly operating a money transmitting business that violated anti-money laundering regulations and facilitated illicit funds transfer. Additionally, the team was responsible for the arrest of Avraham Eisenberg for his exploitation of decentralized exchange Mango Markets.

To oversee the merged team, Claudia Quiroz, a long-time assistant U.S. attorney, will serve as the acting director of NCET. Eun Young Choi, who previously led the team since February 2022, will remain at the DOJ in a different capacity. Argentieri expressed gratitude to Choi for her leadership in establishing a strong collaborative team within the department to address cryptocurrency-related crimes.

The DOJ’s decision to merge the crypto enforcement team with the computer crime division reflects the growing interconnection between cryptocurrency activities and cybercrime. Cryptocurrency work is becoming increasingly intertwined with cyber prosecutions, and this consolidation aims to better address the complex challenges posed by these crimes.

This article serves as informational content and does not offer legal, tax, investment, financial, or other forms of advice. Copyright of this article belongs to The Block Crypto, Inc., and all rights are reserved.

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