An official from the Attorney General’s office announced that the US government will play a more active role in curbing those who use cryptocurrencies for money laundering and other cybercrimes.
Speaking at the Aspen Institute Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco announced that the US Department of Justice has established a National Cryptocurrency Enforcement Team. The new team aims to find platforms that “help criminals launder money or hide crime money.” While Monaco cites the Attorney General’s work against darknet-based Bitcoin (BTC) mixing service Helix in August, he said the US government must do more than that.
“We want to strengthen our ability to destroy the financial ecosystem that enables criminals to breed and profit from what they do,” Monaco said. We will do this with the help of cyber experts, cyber prosecutors and money laundering experts, “he explained.
The Deputy Attorney General added:
“Cryptocurrency exchanges want to be the banks of the future. We need to make sure people are safe using these systems and prevent abuse that could harm them. “
Monaco has been a central figure in the US government’s response to massive ransomware and cyberattacks involving cryptocurrency payments. Monaco was also part of the task force that found and recovered millions of dollars in Bitcoin ransom paid to the Russia-based DarkSide group that hacked into the Colonial Pipeline system in May.
The Deputy Attorney General also announced that a civil cyber crime initiative has been launched against government contractors who do not report leaks and do not meet security standards.