US Department Of Justice Presses Cryptocurrencies, This Time Targeting Crypto Exchanges

JAKARTA The United States (US) government has added to its pressure on the crypto industry through the Department of Justice (DOJ). Previously, the US crypto industry was constantly being pressured by US regulators, the US Securities and Exchange Commission (SEC) led by Gary Gensler.

This condition makes the US crypto industry threatened and chooses other crypto-friendly countries to develop their businesses. If that happens, large amounts of money flowing in the crypto industry will also leave the US.

According to Eun Young Choi, as director of the DOJ's national crypto enforcement team, told the Financial Times that her team is targeting crypto exchanges and "mixers and trippers" to try to eradicate illegal activities.

DOJ believes crypto exchanges or exchanges are involved in illegal activities via crypto. They are also accused of allowing criminals to benefit from their crimes.

"We hope that by focusing on such platforms, we will have a multiplier effect," said Choi.

On the other hand, this DOJ action has put the US crypto industry on a tough challenge. After the SEC, now the DOJ is targeting crypto exchanges under the pretext of eradicating crime.

The decision puts crypto companies operating in the US in a difficult position. As is known, there are a number of leading crypto exchanges operating in the US including Binance.US, Coinbase, Gemini, Kraken, and others.