Justice Department Disbands Cryptocurrency Enforcement Team, Shifts Focus to Criminal Use of Digital Assets
The DOJ has dissolved its National Cryptocurrency Enforcement Team, redirecting resources to address terrorism and drug trafficking instead of investigating digital asset fraud.
The move is one of several efforts by the Trump administration to scale back enforcement of white-collar and financial crimes and divert the resources to fighting drug traffickers and immigration-related human smugglers.
Justice Department shuts down its cryptocurrency fraud unit
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Under Trump’s direction, the federal government has indeed dropped several investigations into cryptocurrency businesses.
Under Trump, US Justice Department ends cryptocurrency investigations
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The disbandment of the unit is the latest in a series of sweeping regulatory reversals under President Donald Trump, who made crypto-friendly policies a centerpiece of his 2024 campaign.
DOJ ends crypto enforcement team, shifts focus to terrorism and fraud
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The decision to disband the unit comes as Trump has expressed a desire to make the US the “crypto capital of the planet.”
Trump’s justice department to disband unit investigating crypto fraud
The Guardian·11d·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.Leans LeftThis outlet slightly leans left.It’s the latest move by the Trump administration to try to boost the cryptocurrency industry while undoing the Biden administration’s efforts to crack down on wrongdoers in the industry.
Justice Department will narrow its focus on crypto-related enforcement
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Summary
Effective immediately, the U.S. Justice Department is disbanding its National Cryptocurrency Enforcement Team, refocusing efforts on crimes involving terrorism and drug trafficking. Deputy Attorney General Todd Blanche stated that the department would no longer enforce regulatory frameworks regarding cryptocurrencies, citing a need for more clarity in the digital asset market under the Trump administration. Ongoing investigations not aligned with the new priorities should be closed. This move marks a significant shift from prior policies aimed at prosecuting crypto fraud, aligning with Trump's campaign promises to support the cryptocurrency industry.
Perspectives
The Justice Department is disbanding its National Cryptocurrency Enforcement Team, signaling a shift in focus away from prosecuting cryptocurrency-related fraud to targeting serious criminal activities such as terrorism and human trafficking.
Deputy Attorney General Todd Blanche criticized the previous administration's strategy of regulating through prosecution, stating that the DOJ should not act as a digital assets regulator.
The Biden administration's targeted enforcement against cryptocurrency entities is being rolled back to align with President Trump's efforts to foster a more favorable environment for digital assets.