Biden targets crypto in new anti-corruption strategy

The Biden administration has published a counter-corruption strategy, a part of which targets the crypto industry.

In a first of its kind document, the United States Strategy on Countering Corruption outlines the government’s anti-corruption policy, defining the approach under five pillars.

Pillar three specifically targets cryptocurrencies with a new Department of Justice (DoJ) task force.

“DOJ will utilize a newly established task force, the National Cryptocurrency Enforcement Team, to focus specifically on complex investigations and prosecutions of criminal misuses of cryptocurrency,” the document says.

The task force will focus on “crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering infrastructure actors.”

The paper reaffirms what has been speculated for much of 2021: that the Biden administration is serious enough about the crypto business to put together a specialised squad to counteract its threats.

What does this mean for the future of crypto? Let us know your thoughts!

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