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The US Department of Justice has formed a formal anti-cryptocurrency crime group that they named the National Cryptocurrency Enforcement Team (NCET). This group will be responsible for cryptocurrency crime investigations, together with various money laundering operations connected to digital currency exchanges. NCET will be chaired by General Kenneth A. Polite Jr, the US Assistant Attorney.
This newly established team will be a joint effort between the Department of Justice Criminal Division’s Money Laundering and Asset Recovery Section (MLARS).
NCET will apparently be providing the needed support when tracing and recovering cryptos which have been lost to scammers. According to the DOJ, they will also be recuperating funds paid to ransomware communities.
Source
It is my understanding that a lot of the industry that was in China has been moving to other places, including the US, which in turn expands the crypto industry there. Considering the rapid expansion it is no wonder that the government is taking notice.
This newly established team will be a joint effort between the Department of Justice Criminal Division’s Money Laundering and Asset Recovery Section (MLARS).
NCET will apparently be providing the needed support when tracing and recovering cryptos which have been lost to scammers. According to the DOJ, they will also be recuperating funds paid to ransomware communities.
Source
It is my understanding that a lot of the industry that was in China has been moving to other places, including the US, which in turn expands the crypto industry there. Considering the rapid expansion it is no wonder that the government is taking notice.
