Partners Preet Bharara, Robert Boone, Tiffany Smith and Zachary Goldman and Associate Joe Zabel discuss the US Department of Justice’s response to the new risks and challenges brought on by the emergence of digital assets in an article published by Law360.
Excerpt: The emergence of digital assets has brought new risks and challenges, including the potential exploitation of the technology to facilitate financial crime.
The U.S. Department of Justice has committed to work with its law enforcement and regulatory partners to "[advance] the responsible development of digital assets, protecting the public from criminal actors in this ecosystem, and meeting the unique challenges these technologies pose."
On the heels of Executive Order No. 14067 on responsibly developing digital assets, the DOJ broadcast a series of new initiatives in furtherance of these efforts.
These additional resources and specialized training will likely result in a greater number of DOJ investigations, so crypto market participants should understand both how the tools of the DOJ vary from those of its regulatory partners, as well as the theories of liability that the DOJ may pursue alongside those partners in parallel actions.