Trump administration reportedly shutters DOJ’s crypto enforcement team
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The United States Department of Justice (DOJ) is reportedly disbanding the National Cryptocurrency Enforcement Team (NCET). NCET’s disbandment was noted in a four-page memo by United States Deputy General Todd Blanche, according to a Fortune journalist who claims to have seen the document in an April 8 report. The official is quoted saying in the note: “The Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution.” Blanche is the second-highest-ranking official in the DOJ and served as US President Donald Trump’s defense attorney in high-profile cases, including the New York hush money case and federal cases related to classified documents and the 2020 election. Related: Trump tariff negotiations are ‘all about’ China deal — Raoul Pal What is the NCET? The NCET’s launch was established in October 2021 under President Joe Biden. At the time, Deputy Attorney General Lisa Monaco said that the unit was aimed at going after platforms “that help criminals launder or hide their criminal proceeds.” She said: “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.” The NCET has been active since February 2022, and at the time of publication, its website remains online. The disbandment is reportedly effective immediately and implemented as part of the efforts to comply with Trump’s late January executive order reshaping US crypto policy. NCET website. Source: US Department of Justice website Related: US federal agencies to report crypto holdings to Treasury by April 7 Trump makes waves in US crypto policy Before returning to office, Trump campaigned on a pro-crypto policy. He promised the creation of a United States strategic Bitcoin (BTC) reserve,…
Filed under: News - @ April 9, 2025 6:22 am