Homeland Security Investigations (HSI) Arizona, a division of the U.S. Department of Homeland Security (DHS), has announced the establishment of a new task force called the “Darknet Marketplace and Digital Currency Crimes Task Force.”
The task force is a collaborative effort between representatives from several federal law enforcement agencies, including HSI Arizona, the Office for U.S. Attorneys, the Internal Revenue Service Criminal Investigation, the Drug Enforcement Administration, and the Postal Inspection Service. These agencies have signed a memorandum of understanding to establish this joint initiative.
The main objective of the interagency team is to investigate and dismantle criminal organizations in Arizona that exploit new technologies like cryptocurrencies and the dark web to engage in illicit activities.
According to the announcement:
The Darknet Marketplace and Digital Currency Crimes Task Force’s mission is to disrupt and dismantle criminal organizations that exploit the appearance of anonymity on the darknet or use digital currency to facilitate criminal activities, such as drug trafficking, money laundering, theft of personal information, and child exploitation.
The collaboration among these five agencies began in 2017, and they have successfully prosecuted numerous high-profile drug trafficking cases through their joint efforts.
The establishment of this task force comes in the context of ongoing discussions about the need for a comprehensive regulatory framework for cryptocurrencies in the United States. In March 2022, President Joe Biden issued an Executive Order on “Ensuring Responsible Development of Digital Assets,” which outlined the initial regulatory approach toward cryptocurrencies.
The Order instructed government agencies such as the Federal Trade Commission (FTC), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) to coordinate their efforts in regulating the cryptocurrency industry. The Order also mandated regular updates from various agencies to Washington on progress and developments in the cryptocurrency field.
In September 2022, the White House unveiled a “comprehensive framework” that reiterated the planned cooperation between the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Treasury Department. The framework also highlighted the importance of collaborating with domestic financial institutions and foreign allies.
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