Forbes - 🚨 Crypto cops

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	Good Thursday morning. This is Billy Bambrough, bringing you your latest batch of crypto news and analysis. 🚨🚨 Don't miss: What (or who) is driving the crypto market in 2021 and beyond? Sign up now for Forbes’ free Crypto Codex Live webcast on October 14 at 2:00pm EDT and get ahead of the market


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🐶 24-hour doge market snapshot

Dogecoin (-2%)

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Flokinomics (984%)

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Flokifrunkpuppy (+82%)

$.0...62

Top signals? 🎩


	After roaring higher over the last week, the bitcoin rally may have topped out at just over $55,000—at least for now. The bitcoin price has this morning dropped back to under $54,000 per bitcoin but could of course just be taking a breather before its next surge higher. The bitcoin rally, coming on the back of Wall Street's biggest banks renewing their interest in crypto, has pushed the combined cryptocurrency market capitalization to almost its all-time highs of $2.5 trillion. However, bitcoin's rally has not been fully reflected in most of the crypto top ten, breaking the recent trend that's seen so-called altcoins outperform bitcoin. While bitcoin is up 25% on this time last week, ethereum and Binance's BNB are up just 20%, cardano 10%, and Ripple's XRP and solana 15% higher. Meanwhile, the soaring price of dogecoin rival shiba inu, branded the "dogecoin killer," has sparked a flurry of interest in even smaller dogecoin rivals—with some of them surging up the crypto price charts. Read the full story on Forbes. Now read this: Anyone seen tether’s billions?

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A new U.S. crypto Justice League 🦸



	Deputy attorney general Lisa Monaco announced the U.S. National Cryptocurrency Enforcement Team © 2021 Bloomberg Finance LP


	Crypto criminals: The U.S. Justice Department is launching a new investigative team focused on disrupting "criminal misuse" of cryptocurrency. Deputy attorney general Lisa Monaco announced the launch of a National Cryptocurrency Enforcement Team at the Aspen Institute Cyber Summit yesterday. Putting a team together: Dubbed the National Cryptocurrency Enforcement Team (NCET), the team will target illicit crypto exchanges and money launderers using cryptocurrencies. "We want to strengthen our capacity to dismantle the financial ecosystem that enables these criminal actors to flourish and, quite frankly, to profit from what they’re doing," Monaco said in a statement. "We’re going to do that by drawing on our cyber experts and cyber prosecutors and money-laundering experts." Fair exchange: NCET will look to "deter, disrupt, investigate, and prosecute criminal misuse of cryptocurrency, as well as to recover the illicit proceeds of those crimes whenever possible," the Justice Department said in its press release Wednesday. To do this, NCET plans to prevent hackers from using cryptocurrency exchanges anonymously while extorting money from victims of their attacks. "Cryptocurrency exchanges want to be the banks of the future," Monaco told the Aspen Cyber Summit, it was reported by Bloomberg. "We need to make sure that folks can have confidence when they use these systems." The path to the dark side: Monaco has been a central figure in the U.S. response to major ransomware and cyberattacks involving cryptocurrency payments in recent years. She was part of a task force that "found and recaptured" millions of dollars worth of bitcoin paid to Russia-based DarkSide hackers following an attack on the Colonial Pipeline system in May. By the numbers: In 2020, ransomware payments reached over $400 million, more than four times the level in 2019, according to deputy national security adviser Anne Neuberger. Why it matters: The move is part of a wider U.S. crackdown on the illicit use of cryptocurrencies as prices and users continue to climb. Last month, the U.S. Treasury Department announced a crackdown on the use of digital currencies in ransomware attacks and other financial crimes, including its first-ever sanctions against a crypto exchange. Politico has a full write-up.

🥊 Emmer V Gensler 🥊


	💢 Congressman Tom Emmer (R-Minn.) isn't happy with the chair of the Securities and Exchange Commission (SEC), Gary Gensler. ⚖️ Emmer, a cryptocurrency stalwart and co-chair of a group of lawmakers interested in blockchain, said he believes Gensler is overstepping his authority in his attempts to expand the SEC’s role in regulating cryptocurrencies—even as the likes of influential senator Elizabeth Warren put pressure on Gensler to crack down harder on the burgeoning crypto space. 🤬 "All regulators want more jurisdiction and I can’t fault them for that," Emmer said in an interview with the Financial Times. "But I think Gary Gensler’s vision is much broader, and frankly because of it, he’s having a negative impact—and potentially will have a really big negative impact—on retail investors and opportunities out there that entrepreneurs and innovators might provide." Now read this: Celebrity crypto shilling is a moral disaster

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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