The latest reports indicate that the Federal Bureau of Investigations (FBI) is setting up a crypto-focused unit. This new unit will work closely with another team that was set up at the Justice Department.
Veteran prosecutor Eun Young Choi has been consulted and brought in to serve as the first director of the DoJ’s National Cryptocurrency Enforcement Team (NCET).
She will work closely with the FBI’s new Virtual Asset Exploitation Unit. The unit is a specialized team of crypto experts that are dedicated to offering analysis, support, and high-quality training across the bureau.
The NCET will be tasked with working on the department’s cases involving the criminal use of digital assets, with a specific focus on infrastructure providers, mixing and tumbling services, virtual currency exchanges, and other platforms that are helping in the misuse of crypto and related technologies that are used in crimes.Buy Crypto Now
“The NCET will play a pivotal role in ensuring that as the technology surrounding digital assets grows and evolves, the department, in turn, accelerates and expands its efforts to combat their illicit abuse by criminals of all kinds.”
News of these crypto teams comes moments after the DoJ’s largest-ever crypto-related bust when it managed to arrest two individuals and recovered $3.6 billion worth of bitcoin in connection to the 2016 Bitfinex exchange hack.