The U.S. Division of Justice (DOJ) is aiming to crack down on cryptocurrency exchanges that assist criminals facilitate cash laundering, in response to Eun Younger Choi, director of the Nationwide Cryptocurrency Enforcement Crew (NCET), the Monetary Occasions reported on Monday.
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Quick details
- Choi informed FT that the company is concentrating on crypto exchanges that fail to adjust to know-your-customer and anti-money laundering guidelines.
- “We hope that by specializing in these varieties of platforms, we’re going to have a multiplier impact,” mentioned Choi.
- The DOJ’s head of crypto enforcement mentioned they’d additionally convey extra motion in opposition to funding scams, which consult with scammers constructing on-line relationships with their victims, generally over an extended time period.
- Final month, the Justice Division announced seizing US$112 million associated to crypto funding schemes, with half of the cash seized from Los Angeles.
- Choi’s division may also deal with decentralized finance hacks, notably associated to cross-chain bridges, which she known as a “fairly important concern” as a result of rise of state-sponsored North Korean hacking teams.
- Crypto hackers stole a record US$3.8 billion in 2022, largely from cross-chain bridge exploits, in response to blockchain forensics agency Chainalysis.
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