The US justice department is disbanding a unit that was dedicated to investigating cryptocurrency-related fraud as Donald Trump’s presidential administration loosens oversight in the digital assets sector.
In a four-page memo sent to justice department employees on Monday evening, the deputy attorney general, Todd Blanche, said that its national cryptocurrency enforcement team (NCET) “shall be disbanded effective immediately”.
The memo from Blanche, who previously represented the president in the 2024 criminal trial that led to Trump’s conviction on 34 felony charges of falsifying business records, said that “the digital assets industry is critical to the nation’s economic development and innovation”.
“The department of justice is not a digital assets regulator,” Blanche said. He then went on to criticize Trump’s presidential predecessor Joe Biden, saying: “However, the prior administration used the justice department to pursue a reckless strategy of regulation by prosecution.”
The justice department will no longer pursue litigation or enforcement actions that have “the effect of superimposing regulatory frameworks on digital assets while President Trump’s actual regulators do this […]
There is absolutely no doubt that No. 2’s insiders had insider information and did make millions of dollars yesterday with insider trading! Even Sen. Schiff called this out. One by one, agencies and departments that protect Americans and our people are being closed. That certainly will prevent investigations and keep the dishonest dishonest!!! No.2 knows exactly what he is doing and while we think of him as really dumb about important areas of the world and government, he is a a sly fox and knows exactly what he is doing! Never in our history has our government been so corrupt and nobody seems to be doing a thing about it. But this is how No.2 has lived—-he’s gotten away with nearly every crime, crooked deal, nonpayment of contractors, etc. etc. all of his evil life. He fully expects this to continue and that’s why he has no fear than anyone will stop him. There must be some who really love this country and will do something about it because right now, all we have are rallies and while it shows concern, they do nothing to stop the danger this administration poses to our country!