The US Department of Justice (DOJ) has established a Digital Asset Coordination Network of more than 150 federal prosecutors nationwide. The official explained that the new network “will further our efforts to combat the threat that the illegal use of digital assets poses to the American people.”
US Government Digital Asset Coordination Network
The United States Department of Justice (DOJ) announced Friday that the Criminal Division has established a nationwide Digital Asset Coordinator (DAC) network.
The Department of Justice said the launch of the DAC network “continues the department’s efforts to combat the threat that the illegal use of digital assets poses to the American public.”
The DAC network, led by the department’s National Cryptocurrency Enforcement Team (NCAT), is comprised of more than 150 assigned federal prosecutors from the US Attorneys’ Office and the department’s litigation divisions.
The DOJ added that the DAC Network will serve as a primary platform for prosecutors to obtain and disseminate specialized training, technical expertise and guidance on investigating and prosecuting digital property crimes.
Kenneth A. Pollitt Jr., Assistant Attorney General for the Justice Department’s Criminal Division, said advances in digital assets “have created a new landscape for criminals to use creativity to pose serious criminal and national security threats at home and abroad.” He explained.
By creating a network of DACs, the Division of Crime and the National Cryptocurrency Enforcement Team, the department and prosecutors will continue to be better positioned to combat the ever-evolving criminal use of digital asset technology.
The DOJ launched the National Cryptocurrency Enforcement Team in October of last year to “complex criminal investigations and cryptocurrency abuse, particularly crimes committed by virtual currency exchanges, mixing and dimming services, and money laundering infrastructure actors.”
Members of the DAC Network will learn about “the application of existing authorities and laws to digital assets and best practices for investigating crimes related to digital assets.” They include the drafting of search and seizure warrants, restraining orders, criminal and civil indictments, indictments and other pleadings, the DOJ detailed, adding:
The DAC network serves as a source of information and a source of discussion to solve the issues of new digital assets such as DIFF [decentralized finance]Smart contracts, token-based platforms, and their use in criminal activity.
In addition, the DAC network will “increase awareness of the unique global issues of the crypto ecosystem, including the benefits of leveraging foreign communications and the challenges of cross-border digital asset investigations,” according to the Department of Justice.
What do you think about the DOJ establishing a digital asset coordination network with over 150 federal prosecutors across the country to combat illegal crypto use? Let us know in the comments section below.
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