The U.S. Department of Justice will reveal major cryptocurrency actions today, according to the latest report from Bloomberg. Attorney General Merrick Garland is slated to announce enforcement initiatives alongside the heads of Treasury, the Deputy Attorney General’s office, and the CFTC. Details are minimal regarding the nature of the cases or specific targets. But the Department of Justice said the joint press conference will unveil “separate but related cryptocurrency enforcement actions.” Speculation is swirling over whether major players like Binance or Coinbase could be implicated in wrongdoing. Several probes related to money laundering and sanctions violations have already been underway involving major exchanges. The DOJ event follows a series of recent landmark stablecoin seizures tied to criminal cryptocurrency infractions. Additionally, on Monday, Tether disclosed it had frozen $225 million worth of its USDT token utilized by an international human trafficking operation. Tether assisted law enforcement, including the DOJ and Secret Service, in mapping flows from the Southeast Asia-based pig butchering scam ring. In addition, the company framed the large-scale seizure as an example of cryptocurrencies enabling unprecedented transparency around illicit finance. Tuesday’s announcements land as industry oversight ramps up on multiple fronts. Just this week, the SEC filed charges against crypto exchange Kraken.
This news indicates that the U.S. Department of Justice is taking a more active stance in cracking down on illicit cryptocurrency activities. This could be potentially good news for the cryptocurrency industry, as greater oversight and enforcement could help boost consumer confidence and foster more legitimate industry practices. #CryptoEnforcement #CryptoCrackdown #CryptoOversight #CryptocurrencyRegulation
You can read more about this topic here: Watcher Guru: Department of Justice to Announce Crypto Enforcement Actions Today