Head of DOJ Crypto Regulation Targets Mixers and Exchanges

The US Department of Justice’s (DOJ) National Cryptocurrency Enforcement Team is cracking down on cryptocurrency mixers and tumblers, as well as exchanges that breach money laundering rules, according to Eun Young Choi, the team’s director. Choi has vowed to prevent widespread use of crypto within the industry, saying it has been a pain point for the DOJ and has allowed criminals to easily profit from their crimes. The DOJ has previously taken action against entities in the industry. Earlier this year, it launched a probe against Binance over a possible violation of sanctions against Russia. Congress in the US recently hosted a hearing on crypto regulation, while US President Joe Biden also announced plans for the safe and responsible development of crypto.