The U.S. Department of Justice (DOJ) is recruiting an attorney for cases involving cryptocurrencies, as a part of its larger effort to monitor the crypto market for criminal activity.
The U.S. Department of Justice is on the lookout for an attorney that specializes in cryptocurrencies for its Criminal Division, according to a notice published on June 23. The recruitment falls under its digital currency initiative, which as a whole has been picking up at a tremendous pace. Based out of a location on the outskirts of Washington DC, the individual will serve as a part of the Trial Attorney for the Digital Currency Initiative.
The position asks for an attorney knowledgeable about cryptocurrency and blockchain technology, with further knowledge in money laundering and asset forfeiture law. The body will accept applications until July 19, 2021.
As a part of the position’s responsibilities, the attorney will have to “identify unexploited opportunities to target for criminal prosecution the professional money launderers, money transmitters, gatekeepers, and financial institutions.” Additionally, they will have to coordinate national and international money laundering and forfeiture.
The U.S. Department of Justice recently recovered a large portion of the bitcoin ransom paid to the Darkside hacking group, which the latter received following the attack on the Colonial Pipeline infrastructure. The incident helped spur the DoJ’s focus on cryptocurrencies.
High-level officials in the Biden administration have also spoken of cybersecurity threats and the role cryptocurrencies could play in them. One such official asked President Biden to bring the matter up at the G7 Summit.
The US reins in the crypto market
The DoJ’s recruitment effort is just one of many initiatives that the U.S. is taking in its broad plan to regulate the cryptocurrency market. Numerous incidents point to this heightened level of activity, including statements from the U.S. Treasury Secretary, SEC Chairman, and the Acting Comptroller of the OCC.
Particularly significant is the fact that U.S. Senator Elizabeth Warren has lambasted cryptocurrencies for a failure to live up to their promises. She instead touted a Central Bank Digital Currency which, like many other nations, she said was better than private cryptocurrencies.
The fear that cryptocurrencies may be used for illicit activities is one narrative thread that is currently popular. The Financial Action Task Force (FATF) spoke to Maltese officials about oversights in its system. China, meanwhile, has asked banks to stop facilitating transactions related to cryptocurrencies.
2021 has become the year of regulation and oversight of the cryptocurrency market, following a boom in the market and general awareness of the public. The latter half of the year will likely see more such developments.
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