The United States Department of Justice (DOJ) has formed a network of prosecutors to work on crypto-related crimes. According to officials, the DOJ has recruited over 150 prosecutors from across the country in this effort. The new team is being dubbed the Digital Asset Coordinators Network.
The network’s goal is to assign U.S. attorneys’ offices with subject-matter expertise on the difficult challenges presented by crypto cases. The network was inspired by the technical know-how that could be applied to the prosecution of cryptocurrency crimes. The formation of the network comes hot on the heels of the Biden administration’s announcement of a crypto regulatory framework.
According to Eun Young Choi, the first director of the Justice Department’s national cryptocurrency enforcement team,
“Digital-asset crimes are truly multidisciplinary. They are cross-border, complex, and challenging investigations and they require a certain level of competency.”
Eun Young Choi Explains Prosecutor’s Network
Choi went on to say that the network aims to train other Justice officials on cryptocurrency issues. The officials include those with experience in the department’s tax, criminal, civil, national security, and environmental divisions. According to Choi, the new network was more than just a marketing initiative added to ongoing initiatives to address the increase in crypto crime. Bitcoin and other currencies have grown more alluring to criminals. Hence, the Justice Department has increased its efforts in this area.
Additionally, Choi states that there will be a resource in every office so the department is ready to deal with crypto-related crimes.
Some cryptocurrency networks, according to regulators, lawmakers, and law enforcement authorities, give users anonymity. This enables them to support terrorists, launder criminal money, or engage in public corruption. Despite the increased use of sanctions and other instruments in recent months, the administration’s plan to police against rogue actors still heavily relies on criminal prosecutions.
Furthermore, the Justice Department published a report on Friday outlining potential legislative and regulatory measures that it believed may improve law enforcement’s ability to compile evidence and launch cryptocurrency-related criminal charges.