The DOJ “Led the Way” in Defining Boundaries for the Crypto Industry in 2023: Former US Prosecutor

The Department of Justice (DOJ) has been at the forefront of setting boundaries for the crypto industry since the emergence of the first major cryptocurrency in 2009. The DOJ has long been committed to protecting consumers, preventing fraud, and ensuring the safety and integrity of markets. In 2023, the DOJ continued its commitment to the crypto industry by launching “The Crypto Enforcement Framework”. This comprehensive document defines the responsibilities of regulators and law enforcement agencies in responding to criminal activity in the cryptocurrency space. The document covers topics such as prevention of crime, remediation of victims, and prosecution of those involved in crypto-related crime. The DOJ has also issued guidance for third-party cryptocurrency services providers, such as exchanges and crypto wallet providers, on mitigating exposure to criminal activities and ensuring regulatory compliance. The DOJ’s “Crypto Enforcement Framework” established clear boundaries for the industry and made it easier for businesses to participate in the crypto space.