US DOJ names crypto enforcement director, reveals new FBI group focused on blockchain analysis and asset seizure

A crypto-focused “enforcement team” founded last October by the US Department of Justice has a new director. 

According to Thursday’s announcement, Eun Young Choi is now leading the National Cryptocurrency Enforcement Team. Previously, Choi served as senior counsel to deputy attorney general Lisa Monaco, who has served as a public-facing official for the DOJ’s crypto efforts. 

“The NCET will play a pivotal role in ensuring that as the technology surrounding digital assets grows and evolves, the department in turn accelerates and expands its efforts to combat their illicit abuse by criminals of all kinds. I am excited to lead the NCET’s incredible and talented team of attorneys, and to get to work on this important priority for the department. I would like to thank Assistant Attorney General Polite and the Criminal Division’s leadership for this opportunity,” Choi said in a statement. 

Monaco announced the move during a speech Thursday; according to a report from Cyberscoop, Monaco said the team is comprised of a dozen prosecutors. She also revealed the formation of a so-called Virtual Asset Exploitation Unit. This unit will be focused on the seizure of crypto assets as well as analysis of blockchain transactions. 

According to Monaco, the NCET was involved with this month’s arrest of two New York residents in connection with the alleged laundering of billions of dollars in bitcoin stolen from crypto exchange Bitfinex.