Leading government lawyers from major regulatory bodies outlined their plans to tackle digital currency crime. At a recent industry event, they mentioned targeting gatekeepers like audit firms and lawyers as one of their main strategies.

Officials from the Securities and Exchange Commission (SEC), Department of Justice (DoJ), and Commodity Futures Trading Commission (CFTC) were among those in attendance at the American Bar Association’s annual Institute on Crime in white collar in Miami. According to a law360 report, the fight against digital currency crime was high on the list of topics addressed by officials. Each agency described what they have done in this regard, their achievements so far and what they have in store for the future.

For the DoJ, prosecuting those involved in white-collar crimes was a priority, senior official Nicholas McQuaid told attendees. The departments also intend to expand their use of data-driven probes in cases related to digital currencies.

In addition, the DoJ has partnered with the FBI to form a specialized group within the latter to facilitate the department’s investigations into digital currencies.

The CFTC has stepped up its game in tackling digital currency criminals, Acting Director of Law Enforcement Vincent McGonagle told attendees. “In the area of ​​digital assets, we have brought several actions against entities where they offer digital assets, Bitcoin or others on a margin or funding basis,” he commented.

However, the director believes that there is still a lot to do, especially in the nascent decentralized finance (DeFi) sector.

The SEC was represented by Gurbir Grewal, its enforcement director. He was adamant that the agency will continue to crack down on those who break the law under the guise of Bitcoin. The focus will be on the gatekeepers who Grewal says have been instrumental in facilitating digital currency crime.

“… We are going to take a close look at gatekeepers like auditors and audit firms, lawyers and underwriters,” he said.

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