At the Munich Cyber Security Conference, Lisa Monaco (Deputy Attorney General) announced that the United States had a new Deputy Attorney General. Formation of the task force “dedicated to cryptocurrency” within the Federal Bureau of Investigation (FBI). Coming four months after the launch of the Justice Department’s National Cryptocurrency Enforcement Team (NCET), this marks another major step in the U.S. government’s crusade against criminal abuse of cryptocurrencies.

How the task force should look

Monaco has revealed the name of the Virtual Asset Exploitation Unit, (VAXU). It will bring together the personnel from the various units of the FBI with crypto expertise to conduct investigations that use blockchain analysis and can result in virtual assets’ seizure. There are still not a lot of details available on the details of the VAXU’s operation but in her speech, Monaco clearly emphasized the fight against cyber ransomware as the main priority:

Relationship to the NCET

NCET’s new look

Executive synergies