According to Coin Desk, the "National Cryptocurrency Enforcement Team will investigate ransomware and other crimes with tools including blockchain analysis," among other functions.
Announced last week by Deputy Attorney General Lisa Monaco, the NCET will assess which types of crimes that involve the use of crypto may need additional resources to investigate and eventually prosecute -- a definition that sounds a lot like the bureau is already trying to figure out how to entrap people who rely on cryptocurrencies so that their money can't be frozen by a bank or confiscated by Uncle Sam if they hold the 'wrong political view' like the Freedom Convoy truckers in Canada.
As noted by a Justice Department press release, the NCET's first director will be longtime prosecutor Eun Young Choi.
“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," Polite added.
“The department has been at the forefront of investigating and prosecuting crimes involving digital currencies since their inception,” noted 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," she said.
The DOJ release went on to describe the function of this new entrapment division:
The NCET was established to ensure the department meets the challenge posed by the criminal misuse of cryptocurrencies and digital assets, and comprises attorneys from across the department, including prosecutors with backgrounds in cryptocurrency, cybercrime, money laundering and forfeiture. The NCET will identify, 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.
The NCET’s work will be furthered through close collaboration with components across the department, including the Criminal Division’s Computer Crime and Intellectual Property Section and Money Laundering and Asset Recovery Section; the U.S. Attorneys’ offices; the National Security Division; and the FBI, including the FBI’s new Virtual Asset Exploitation Unit, a specialized team of cryptocurrency experts dedicated to providing analysis, support, and training across the FBI, as well as innovating its cryptocurrency tools to stay ahead of future threats.
It should be noted that after Canadians who were participating in the Freedom Convoy protest against tyrant Trudeau's nonsensical COVID-19 vaccine mandate had their donations seized by his government and Canadian banks, they turned to cryptocurrencies in order to prevent such theft from reoccurring.
And the next thing we know, the FBI is forming a 'crypto crime division' to 'go after illegal activity involving cryptocurrencies.'
Tyrants will tyrant, that's what they do, but there will come a point when this out-of-control government will push one too many times.