Analysis

New DOJ Crypto Team Puts Exchanges In Hot Seat

By Elise Hansen (October 8, 2021, 8:13 PM EDT) -- The U.S. Department of Justice's new cryptocurrency enforcement team is the latest signal that the federal government has its sights on illicit uses of digital assets — particularly the role of cryptocurrency in ransomware payments and money laundering, attorneys told Law360.

The DOJ on Wednesday announced the launch of the National Cryptocurrency Enforcement Team, or NCET, which will focus on activity by cryptocurrency exchanges and infrastructure providers that enables money laundering. The team will also help track down and recover assets lost to fraud and ransomware payments, the announcement said. The new team was announced alongside an initiative to crack down...

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