DOJ Vows to Crack Down on Crypto Exchange Misconduct: FT

The head of crypto enforcement at the US Department of Justice (DOJ), Eun Young Choi, has pledged to crack down on illicit behaviour on trading platforms, targeting those that allow "criminal actors to easily profit from their crimes and cash out." The DOJ is focusing on businesses that sidestep anti-money laundering or know-your-customer rules or who do not engage in thorough compliance and risk mitigation. The National Cryptocurrency Enforcement Team (NCET) also aims to bring more enforcement actions against investment scams, which Choi describes as "pig butchering" schemes.