The White House has introduced a strategy outlining five pillars of work to fight corruption and one of the pillars is focused on holding corrupt individuals accountable, Decrypt reported Tuesday.
One of the strategic objectives under this pillar seeks to improve enforcement efforts by enabling the Department of Justice to use the newly established National Cryptocurrency Enforcement Team (NCET) to “focus specifically on complex investigations and prosecutions of criminal misuses of cryptocurrency.”
NCET will focus on crimes carried out by virtual currency exchanges, money laundering infrastructure actors and mixing and tumbling services.
The United States Strategy on Countering Corruption also aims to curb illicit finance by addressing deficiencies in the anti-money laundering regime. To advance this strategic objective, the U.S. will continue to assess the risk posed by digital assets and update regulations and policies as needed.
According to the strategy, digital assets have been employed in support of ransomware attacks, corruption, fraud, sanctions evasion and other illicit activities.
“As appropriate, the United States will engage countries to help with the analysis and development of central bank digital currencies in a manner consistent with stability, consumer and investor protection, and countering illicit finance,” the document reads.
Potomac Officers Club’s Digital Currency and National Security Forum will bring together distinguished federal government and industry leaders to discuss the implications, risks, challenges and opportunities digital currencies pose for the future of the U.S. economy and national security.
John C. Inglis, the first national cyber director and former deputy director of the National Security Agency, will serve as the forum’s opening keynote speaker to detail the nation’s plan for regulation as digital currencies continue to gain worldwide importance.
Visit PotomacOfficersClub.com to learn more and the upcoming event on Jan. 27th and register to save your spot for this can’t miss forum!