The U.S. Justice Department has tapped more than 150 federal prosecutors across the country to bolster law enforcement’s efforts to combat the rise in crime linked to the use of cryptocurrencies such as bitcoin, officials said. The Biden administration is announcing the new effort Friday alongside the release of a broader set of frameworks from other agencies concerning regulatory approaches to developing the digital currency ecosystem. They also have increasingly been dedicated to disrupting criminals through technical means—which may rely on the cooperation of cryptocurrency exchanges—and seizing stolen cryptocurrency. The Biden administration also released a series of other reports on cryptocurrencies as part of the executive order on Friday. “We recommend that agencies continue to rigorously pursue their enforcement efforts focused on the crypto asset sector.”As the Journal reported earlier, the Biden administration will continue to study the possibility and practicalities of creating a digital dollar.

Source: Wall Street Journal September 17, 2022 00:04 UTC