DOJ to Double Crypto Team, Target Ransomware Crimes

22. Juli 2023 | by admin

• The U.S. Department of Justice (DOJ) will be increasing the pool of available prosecutors to investigate illicit activities related to cryptocurrency.
• Claudia Quiroz is set to take over as interim director of the National Cryptocurrency Enforcement Team (NCET).
• NCET has contributed greatly to DOJ’s cryptocurrency-related inquiries, such as bringing charges against the creator and primary shareholder of Bitzlato exchange and supporting the probe into Binance.

Increased Pool Of Prosecutors

The U.S. Department of Justice (DOJ) promises to significantly increase the pool of available prosecutors to probe into illicit activities tied to cryptocurrencies. Department of Justice representative Nicole Argentieri announced that the National Cryptocurrency Enforcement Team (NCET) would be integrated as a constant entity within a department division that deals with an array of digital-related inquiries.

Leadership Change In NCET

Leadership within the team is set for a shakeup. Claudia Quiroz steps into the role of interim director following the exit of the current head, Eun Young Choi, as stated by Argentieri. Choi is set to transition into a fresh role within the DOJ, confirmed a representative from the department.

Incorporating NCET Into CCIPS

In a discussion held in Washington, D.C., by the Center for Strategic and International Studies, Argentieri mentioned that it was time to elevate NCET’s status by incorporating it within the Computer Crime and Intellectual Property Section (CCIPS), which would provide necessary resources and trajectory for greater success in their mission..

Initiated Due To Potential Exploitation Of Cryptocurrencies

The DOJ initiated NCET in 2021 due to rising alarm regarding potential exploitation of cryptocurrencies for transmission or laundering unlawful funds by miscreants terrorists or other malicious entities.