The US Department of Justice focuses on the role of a coordinated federal response in its new report. It emphasized the need to reduce crypto crime and crypto-related threats to national security.
Attorney General Merrick Garland said digital assets play a growing role in the global financial system. As such, departments and agencies across the government must work in tandem to prevent and disrupt the exploitation of these technologies to facilitate crime and undermine national security.
The report The Role of Law Enforcement in Detecting, Investigating and Prosecuting Criminal Activity Related to Digital Assets is mandated by the White House to address six priorities related to digital assets. It includes investor protection, illegal finance, financial stability, how the United States will maintain its financial stability in the process, financial inclusivity, and responsible innovation.
The DoJ’s Criminal Division DAC will oversee over 150 federal prosecutors from jurisdictions across the US. It will see the DoJ’s legal arms train in the minutiae of prosecuting and investigating digital crimes. They will serve as subject matter specialists for their DoJ office. The report outlined two broad areas of crime, including using crypto to finance or conceal the crime and the undermining of the digital asset ecosystem, especially in the area of decentralized finance (DeFi).