Michael Yaeger Quoted in Cointelegraph on Department of Justice’s Cryptocurrency Enforcement Framework
Carlton Fields Shareholder Michael Yaeger was quoted in a Cointelegraph article about the U.S. Department of Justice’s recently revealed Cryptocurrency Enforcement Framework.
The document details how laws governing digital finance will be implemented on the ground, and calls attention to the far-reaching jurisdiction over foreign-based actors who use virtual assets in ways that harm U.S. citizens or businesses.
The Department of Justice is able to use the United States’ prominent financial position within the world to hold these actors accountable, as well as several powerful statutes and the threat of forfeiture.
“When forfeiture is combined with pre-judgment seizure of assets it is not only a powerful remedy, but an unusually fast one. The US has multiple cooperation agreements with other countries including data sharing agreements with foreign law enforcement and intelligence agencies, and has entered specific agreements related to forfeiture and the sharing of financial information,” said Yaeger.
