U.S. Attorney General Cyber Task Force Describes Cryptocurrency Enforcement Framework

In a new report, the U.S. Attorney General's Cyber-Digital Task Force laid out the enforcement framework for cryptocurrency. The report provided a detailed primer on: the process by which cryptocurrency is transferred; the various ways in which cryptocurrency may be used to facilitate terrorist or criminal activity, including tax evasion; the various agencies that have regulatory authority over cryptocurrency (and, in the case of the CFTC, derivatives on the currency) or, more generally, over money transfers; and the statutes under which criminal charges may be brought. Notably, the report singles out the State of New York as having been "one of the more proactive States to regulate and gather information in the virtual asset and [initial coin offering] space."