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New Enforcement Instruments in Regulating Cryptocurrency


We are able to’t say they didn’t warn us. Earlier this 12 months, the U.S. authorities mentioned it might scrutinize the cryptocurrency markets and their relationship with banks. The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance coverage Company, and the Workplace of the Comptroller of the Foreign money warned monetary establishments that cryptocurrency was getting used for fraud and cash laundering, and posed contagion dangers, focus dangers and a problem to present governance mechanisms.

The Division of Justice’s (DOJ) newly-formed Nationwide Cryptocurrency Enforcement taskforce (NCE) has now entered the fray, deploying an arsenal of recent instruments to ferret out cash laundering and seize belongings of cryptocurrency exchanges.

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