DOJ Appoints a Director for the Crypto Enforcement Team

~2 min read | Published on 2022-02-18, tagged General-News using 361 words.

The Justice Department selected the Director of the newly-created National Cryptocurrency Enforcement Team (NCET).
Eun Young Choi will serve as the first Director of the National Cryptocurrency Enforcement Team (NCET). The DOJ announced the NCET in October 2021 as a “focal point” for the Justice Department’s efforts in investigating crimes committed or enabled by cryptocurrency. It will involve prosecutors with a background in financial crime and the Federal Bureau of Investigation’s new Virtual Asset Exploitation Unit. According to the DOJ, the goal of the NCET is to:
“[I]dentify, investigate, support and pursue the department’s cases involving the criminal use of digital assets, with a particular focus on virtual currency exchanges, mixing and tumbling services, infrastructure providers, and other entities that are enabling the misuse of cryptocurrency and related technologies to commit or facilitate criminal activity.”

Eun Young Choi assumed her role on February 17, 2022.
“With the rapid innovation of digital assets and distributed ledger technologies, we have seen a rise in their illicit use by criminals who exploit them to fuel cyberattacks and ransomware and extortion schemes; traffic in narcotics, hacking tools and illicit contraband online; commit thefts and scams, and launder the proceeds of their crimes,” said Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division. “The NCET will serve as the focal point for the department’s efforts to tackle the growth of crime involving these technologies. Eun Young is an accomplished leader on cyber and cryptocurrency issues, and I am pleased that she will continue her service as the NCET’s inaugural Director, spearheading the department’s efforts in this area.”
“The department has been at the forefront of investigating and prosecuting crimes involving digital currencies since their inception,” said Director Choi. “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. I am excited to lead the NCET’s incredible and talented team of attorneys and to get to work on this important priority for the department. I want to thank Assistant Attorney General Polite and the Criminal Division’s leadership for this opportunity.”