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The Department of Justice Sets Cryptocurrency Squarely in its Sights

October 14, 2021

Via: LexBlog

The Department of Justice is aggressively scrutinizing participants in the cryptocurrency markets—including “financial institutions working with cryptocurrency”—to thwart the use of the technology as a vehicle for money laundering and other illegal activity.

Even as cryptocurrency becomes more mainstream, it is the primary demand mechanism for ransomware payments, commonly underpins the operation of illegal or unregistered money services businesses, and is the preferred means of exchange of value on the “dark web” for drugs, weapons, and malware and other hacking tools.

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