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FBI Is Forming A New Digital Currency Unit

Started by PocketOption, Feb 19, 2022, 06:11 am

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FBI Is Forming A New Digital Currency Unit

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FBI Is Forming A New Digital Currency Unit


The U.S. Department of Justice has hired veteran cybercrime prosecutors to lead its new national cryptocurrency enforcement team. On Thursday, they have announced that the FBI is creating a unit to analyze blockchain and seize virtual assets.

The creation of the FBI’s virtual asset development unit follows the Justice Department’s largest-ever financial seizure earlier this month. It charged a married New York couple with allegedly laundering more than $4.5 billion worth of bitcoin in the 2016 hack of digital currency exchange Bitfinex.

U.S. regulators under President Joe Biden have stepped up scrutiny of the crypto industry following a series of high-profile cyberattacks last year on the nation’s largest fuel pipeline network and the world’s largest beef supplier. Ransomware groups typically charge in Bitcoin.

In some of these cases, the FBI could track down and recover part of the ransom.

Cryptocurrencies are based on blockchain technology. A database is shared across a network of computers where records are difficult to change once added.

Assistant Attorney General Lisa Monaco announced that Eun Young Choi, the prosecutor charged with prosecuting a n hacker, will join the cryptocurrency enforcement team, where he will lead the department.

According to her LinkedIn profile, Choi most recently served as senior legal counsel in Monaco. He also worked in New York as a cybercrime coordinator and assistant U.S. attorney for nearly a decade.

Monaco also announced the creation of a new international virtual currency initiative. It said the department would take aggressive action against cyber threats, even at the risk of tipping off cybercriminals and jeopardizing possible charges.

e, stocks, Euro

e’s Updated Crypto Law Removes A Department As The Regulator


e’s parliament has approved some significant changes to the country’s primary cryptocurrency-related legislation, the “On Virtual Assets” bill.

The ian Rada passed the law on second reading in a plenary session on Thursday, with 272 out of 365 MPs backing it.

MEPs explicitly approved several legislative proposals by e’s president and removed the country’s Ministry of Digital Transformation from the list of agencies regulating the cryptocurrency market.

The updated version of the bill establishes the National Securities and Stock Market Committee of e (NSSMC) and the National Bank of e (NBU) as the two central regulators of the crypto market.

The NBU is exclusively responsible for monitoring the turnover of virtual assets backed by monetary value.

e’s draft law on “virtual assets” was launched in May 2020 to determine the legal status of cryptocurrencies such as Bitcoin (BTC). After several readings, the ian president returned the bill to parliament for revision, arguing that creating a new regulator to oversee digital assets would be expensive.

Founded in August 2019, the Digital Transformation Department is known for its collaborations with some of the crypto industry’s most prominent players, including Binance, the world’s largest crypto exchange.

The news comes amid ongoing tensions between e and . According to reports,  is stationing troops on the ian border. However,  still claims it will withdraw some troops.  is also grappling with crypto regulation amid the ongoing crisis. The government is planning to release draft regulations for the industry on Friday.

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Binance Manager Leads n Banking Association’s Center Of Crypto Expertise


The world’s largest cryptocurrency exchange by trading volume expands its ties to . Binance ceases services in countries such as Israel due to licensing issues.

Binance announced Thursday that it had joined a consortium of n banks. The goal of the joint is to facilitate dialogue with local authorities, lawmakers, and cryptocurrency industry experts.

Founded in 1990, the association consists of more than 300 banks and financial institutions in . The association covers nearly 90% of the country’s banking infrastructure.

The Council of the Association has approved Binance as a member of the association. It has established its digital financial asset and digital currency expert center.

The task of the Center of Experts is to prepare professional assessments of the circulation of digital assets in . They also aim to provide the association and its representatives with expert data on the subject. Additionally, their job is to report on international experience dealing with crypto assets.

Binance  and the Commonwealth of Independent States (CIS) Director Olga Goncharova take over as the Association’s Expert Center leader, which the Association’s Bureau approves.

Goncharova joined the cryptocurrency exchange to advance compliance efforts in  and the CIS. Before joining Binance, she worked as a department head at a n bank.

Introducing Goncharova, Association President Georgy Luntovsky noted she would be responsible for adequately overseeing the circulation of n digital currencies.

Head of Binance’s Eastern Europe division expressed confidence that the n banking industry will well-receive Binance’s expertise in the crypto market.

Binance is known for its close cooperation with several n state-backed organizations and local blockchain advocates.

Binance executives also support a crypto industry launch in 2020 as part of the n crypto lobby.

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