The U.S. Department of Justice is planning to target cryptocurrency exchanges that aid in money laundering activities, according to the director of the National Cryptocurrency Enforcement Team. The agency will focus on exchanges that do not comply with anti-money laundering and know-your-customer rules.

The DOJ will also take action against investment scams and decentralized finance hacks, particularly related to cross-chain bridges. In 2022, crypto hackers stole a record $3.8 billion, mostly from cross-chain bridge exploits.