ABSTRACT

Report of the Attorney General's Cyber Digital Task Force: Cryptocurrency Enforcement Framework   [open pdf - 9MB]

From the Introduction: "At the outset, it bears emphasizing that distributed ledger technology, upon which all cryptocurrencies build, raises breathtaking possibilities for human flourishing. These possibilities are rightly being explored around the globe, from within academia and industry, and from within governments-- including our own. [...] But as the following pages make clear, despite its relatively brief existence, this technology already plays a role in many of the most significant criminal and national security threats our nation faces. As the Task Force has found, illicit uses of cryptocurrency typically fall into three categories: (1) financial transactions associated with the commission of crimes; (2) money laundering and the shielding of legitimate activity from tax, reporting, or other legal requirements; or (3) crimes, such as theft, directly implicating the cryptocurrency marketplace itself. Part I of this Enforcement Framework examines in detail each of those categories. Our society is not powerless in the face of these threats. As Part II demonstrates, the government has legal and regulatory tools available at its disposal to confront the threats posed by cryptocurrency's illicit uses. [...] This report concludes in Part III with a discussion of the ongoing challenges the government faces in cryptocurrency enforcement--particularly with respect to business models (employed by certain cryptocurrency exchanges, platforms, kiosks, and casinos), and to activity (like 'mixing' and 'tumbling,' 'chain hopping,' and certain instances of jurisdictional arbitrage) that may facilitate criminal activity."

Publisher:
Date:
2020-10
Copyright:
Public Domain
Retrieved From:
U.S. Department of Justice: https://www.justice.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations