Eun Young Choi, one of the officials of the US Department of Justice specializing in crypto money, made striking statements on the sector.
Speaking to the leading publication Financial Times, Choi mentioned that crimes committed through cryptocurrencies have increased significantly in the last 4 years. The Justice Department official assured that they will continue to attack crypto companies that serve money launderers.
Eun Young Choi emphasized that apart from money laundering, criminals make money very easily through fraud and similar activities over cryptocurrencies and companies allow this.
According to the government official, the ministry will continue to impose harsh sanctions on these initiatives. This will discourage misbehaving crypto companies from serving malicious people.
"Digital assets are increasingly being adopted by the public. The increase in the activity of malicious actors parallels this situation."
The United States especially focused on crypto startups in 2023. Government agencies that pushed the button with the bankruptcy of FTX opened investigations against many companies. Exchanges like Binance, Coinbase and Kraken are already facing scrutiny.