Cyber-Digital Task Force Released An Enforcement Framework Against illicit uses of cryptocurrency

​Cryptocurrency is a great technology that could fundamentally transform the whole society, but if someone uses it for illegal purpose, it could imperil the public safety even national security. Criminals can use it to prevent the police from tracing the money across a wide range of investigations, as well are to trade in illicit goods like criminal tools on the dark web. For example, the cyber criminals behind ransomware attacks often use cryptocurrency to try to hide their true identities when acquiring malware and infrastructure, and receiving ransom payments.  

Recently, the Attorney General’s Cyber-Digital Task Force release a detailed report called “Cryptocurrency: An Enforcement Framework​”, which aims to provides a comprehensive overview of the emerging threats and enforcement challenges associated with the increasing prevalence and use of cryptocurrency.

The enforecement framework mainly composed with three part. In the first part, the Framework provides a detailed threat overview, cataloging the three categories into which most illicit uses of cryptocurrency typically fall; In the second part, it explores the various legal and regulatory tools at the government’s disposal to confront the threats posed by cryptocurrency’s illicit uses and highlights cooperation with each authorities; and the third part mainly discusses challenges the government faces in cryptocurrency enforcement.

In fact, this Cryptocurrency Enforcement Framework is the second detailed report issued by the Attorney General’s Cyber-Digital Task Force since it released the first detailed report of ATTORNEY GENERAL’S Cyber Digital Task Force in July 2018.