Cryptocurrencies

Department of Justice Announces First Director of National Cryptocurrency Enforcement Team | Takeover bid

John Barksdale Charged with Cryptocurrency Securities Fraud in Ormeus Coin Sale |  USAO-SDNY

The Department of Justice today announced the selection and appointment of Eun Young Choi as the first director of the National Cryptocurrency Enforcement Team (NCET).

Ms. Choi is a seasoned prosecutor with nearly a decade of experience in the department and most recently served as Senior Counsel to the Deputy Attorney General. She will assume her duties full-time as of today.

“With the rapid innovation of digital assets and distributed ledger technologies, we have seen an increase in their illicit use by criminals who exploit them to fuel cyberattacks and ransomware and extortion schemes; drug trafficking, hacking tools and illicit smuggling online; commit theft and fraud; 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 a focal point for the department’s efforts to combat the growth of crime involving these technologies. Eun Young is an accomplished leader on cyber and cryptocurrency issues, and I am delighted that she will continue her service as the first director of NCET, spearheading the department’s efforts in this area.

The NCET was created to ensure the department meets the challenge posed by the misuse of cryptocurrencies and digital assets, and includes attorneys from across the department, including prosecutors with experience in cryptocurrency, cybercrime , money laundering and confiscation. The NCET will identify, investigate, support and prosecute departmental 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 enable the misuse of cryptocurrency and technology to commit or facilitate criminal activity. The NCET will set strategic priorities for digital asset technologies, identify areas requiring increased investigation and prosecution attention, and lead the department’s efforts to coordinate with national and international law enforcement partners. law, regulators and private industry to combat the criminal use of digital assets. Finally, the NCET will enhance the Criminal Division’s existing efforts to provide support and training to federal, state, local, and international law enforcement agencies to enhance their ability to aggressively investigate and prosecute serious crimes involving the cryptocurrency and digital assets in the United States and around the world. .

The work of the NCET will be deepened through close collaboration with components across the department, including the Criminal Division’s Computer Crime and Intellectual Property Section and the Money Laundering and Money Recovery Section. assets; US attorneys’ offices; the National Security Division; and the FBI, including the new FBI Virtual Assets Operating Unit, a specialized team of cryptocurrency experts dedicated to analysis, support and training within the FBI, as well as the innovation of its cryptocurrency tools to stay ahead of future threats.

“The department has been at the forefront of investigating and prosecuting crimes involving digital currencies since its inception,” Director Choi said. “The NCET will play a central role in ensuring that, as the technology surrounding digital assets develops and evolves, the department in turn accelerates and expands its efforts to combat their illicit misuse by criminals of all kinds. I am thrilled to lead NCET’s incredible and talented team of attorneys and get to work on this important priority for the department. I would like to thank Assistant Attorney General Polite and the leadership of the Criminal Division for this opportunity.

Prior to her service as lead counsel for Deputy Attorney General Lisa O. Monaco, Director Choi began her career at the department as Assistant U.S. Attorney for the Southern District of New York, where she held the position office cybercrime coordinator and investigated and prosecuted cybercrime. , complex fraud and money laundering crimes, with a particular focus on network intrusions, digital currency, dark web and national security investigations. She served as a lead prosecutor on a variety of cases, including investigating a transnational organization responsible for hacking JP Morgan Chase and a dozen other financial companies; the operation of Coin.mx, an unlicensed virtual currency exchange; and the only US lawsuit filed in connection with the “Panama Papers”. Additionally, she successfully argued the appeal before the Second Circuit in the case against Ross Ulbricht, the founder and chief administrator of Silk Road, the first darknet marketplace. Earlier in her career, she clerked for the Honorable Naomi Reice Buchwald of the United States District Court for the Southern District of New York and the Honorable Reena Raggi of the United States Court of Appeals. United for the second circuit. She is a graduate of Harvard College and Harvard Law School.