DOJ Launches Network of Over 150 Federal Prosecutors to Combat Criminal Uses of Crypto

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The US Department of Justice (DOJ) has established a nationwide Digital Asset Coordinator network of more than 150 federal prosecutors. The authority explained that the new network will “further its efforts to combat the growing threat posed by the illegal use of digital assets to the American public.”

US Government Digital Asset Coordinator Network

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The US Department of Justice (DOJ) announced Friday that its criminal department has established a nationwide Digital Asset Coordinator (DAC) network.

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The Justice Department noted that the DAC Network launch is “to advance the department’s efforts to address the growing threat posed by the illegal use of digital assets to the American public,” elaborating:

Led by the department’s National Cryptocurrency Enforcement Team (NCET), the DAC network includes more than 150 designated federal prosecutors from US attorneys’ offices and the department’s litigation components.

The DOJ said the DAC network will serve as its primary platform for prosecutors to receive and disseminate specialized training, technical expertise and guidance regarding the investigation and prosecution of digital asset crimes.

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Assistant Attorney General for the Justice Department’s Criminal Division Kenneth A. Polite Jr. said the development of digital assets “creates a new landscape for criminals to exploit innovation to advance significant criminal and national security threats, both domestically and abroad.” he told:

Through the creation of the DAC network, the Criminal Division and the National Cryptocurrency Enforcement Team will continue to ensure that the department and its prosecutors are in the best position to combat the ever-evolving criminal uses of digital asset technology.

The DOJ in October last year called for “complex investigations and prosecutions of criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and crimes committed by money laundering infrastructure actors.” Cryptocurrency Enforcement Team”.

Members of the DAC Network will “learn about the application of existing authorities and laws for digital assets and best practices for investigating crimes related to digital assets.” They include the drafting of search and seizure warrants, restraining orders, criminal and civil forfeiture actions, indictments, and other arguments, the DOJ detailed, adding:

The DAC network issues new digital assets, such as defi . will also serve as a source of information and discussion addressing [decentralized finance]Smart contracts, token-based platforms and their use in criminal activities.

In addition, the DAC network will “raise awareness of the unique international views of the cryptocurrency ecosystem, including the benefits of leveraging foreign ties and the challenges of cross-border digital asset investigations,” the Justice Department said.

What do you think of the DOJ establishing a nationwide Digital Asset Coordinator Network with more than 150 federal prosecutors to combat the illegal use of crypto? Let us know in the comments section below.

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