Department of Justice Creates New ‘National Cryptocurrency Enforcement Team’

Department of Justice Creates New ‘National Cryptocurrency Enforcement Team’

The U.S. Department of Justice (DOJ) is creating a new team to go after criminal activity within the digital asset space.

The National Cryptocurrency Enforcement Team (NCET) will operate under the department’s Criminal Division to prosecute illegal activity and attempt to recover illicit proceeds.


The new DOJ press release says,

“Deputy Attorney General Lisa O. Monaco announced today the creation of a National Cryptocurrency Enforcement Team (NCET), to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors.”

According to Assistant Attorney General Kenneth A. Polite Jr.,

“The creation of this team will build on this leadership by combining and coordinating expertise across the Division in this continuously evolving field to investigate and prosecute the fraudulent misuse, illegal laundering, and other criminal activities involving cryptocurrencies.”

The NCET plans to build relationships with law enforcement agencies at federal, state, and local levels as well as seek out partnerships with private sector entities well-versed in cryptocurrencies.

“Areas for increased investigative and prosecutorial focus [include] professional money launderers, ransomware schemes, human traffickers, narcotics traffickers, and financial institutions working with cryptocurrency.”

The announcement comes on the heels of a broader international push to crack down on cybercrime which has cheated consumers out of billions of dollars annually.

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