United States of America: Issued Department of Justice report on digital assets and launched nationwide network

On 16 September 2022, the US Department of Justice released a report, “The Role of Law Enforcement in Detecting, Investigating, and Prosecuting Criminal Activity Related to Digital Assets”, and established the nationwide Digital Asset Coordinator (DAC) network. The report details the ways in which digital assets have been exploited as a means for facilitating or concealing criminal activity. It also discusses how new technologies, such as decentralised finance, have created new challenges for law enforcement. The DOJ also launched the DAC network led by the DOJ’s National Cryptocurrency Enforcement Team to detect, investigate, and prosecute crimes related to digital assets. This report was released pursuant to US President Joseph Biden’s Executive Order 14067 on Ensuring Responsible Development of Digital Assets on 9 March 2022.