U.S. Justice Dept launches new initiatives on cryptocurrencies, contractor hacks

FILE PHOTO: U.S. Deputy Attorney General Lisa Monaco delivers opening remarks at a meeting with federal and local law enforcement to discuss their work on the recently announced firearms trafficking strike forces, in New York, U.S., August 4, 2021. Richard Drew/Pool via REUTERS

WASHINGTON (Reuters) -U.S. Deputy Attorney General Lisa Monaco on Wednesday unveiled two new Justice Department enforcement initiatives aimed at targeting cryptocurrencies and government contractors who fail to report cyber breaches.

Monaco announced on Wednesday, during a virtual speech at the Aspen Cyber Summit, the launch of the National Cryptocurrency Enforcement Team, whose goal will be to "strengthen" the Justice Department's ability to disable financial markets that allow cybercriminals to "flourish."