The US Justice Department issued a vague statement on Wednesday that it would “announce a major, international cryptocurrency enforcement action,” and noting that the US Treasury Department would also be making its own statement.
“The U.S. Department of the Treasury will also announce an action in this space,” the statement said.
US officials from each agency will give their remarks around 12pm in Washington DC, according to the statement.
It’s unclear what the DOJ and Treasury Department mean by “enforcement action,” but the announcement comes at a time when former FTX crypto exchange CEO Sam Bankman-Fried is facing charges of wire fraud, securities fraud, and conspiracy.
His company — long considered one of the biggest crypto exchanges alongside Binance — declared bankruptcy after allegedly using — and losing — customers’ funds as investment capital. Investigators believe FTX lost nearly $8bn worth of its customers’ money before declaring bankruptcy.
