Trump administration shuts down DOJ's crypto enforcement team, aligning with pro-crypto stance
From Cointelegraph
April 08, 2025 09:03 AM:
The US Department of Justice is disbanding the National Cryptocurrency Enforcement Team (NCET), as confirmed by Deputy General Todd Blanche’s memo. Blanche, formerly Trump’s defense attorney, criticized the prior administration’s strategy of regulating digital assets through prosecution. NCET, active since February 2022, aimed to combat money laundering in the crypto space.
NCET was launched in October 2021 under President Joe Biden to target platforms facilitating criminal financial activities. Deputy Attorney General Lisa Monaco emphasized dismantling the financial ecosystem supporting criminal actors. Despite NCET’s activity, the team has been disbanded immediately to align with Trump’s executive order reshaping US crypto policy.
Trump’s return to office signaled a pro-crypto stance, with promises of a strategic Bitcoin reserve and global crypto leadership. However, concerns arose over potential conflicts of interest due to Trump’s involvement in crypto projects like WLFI DeFi protocol and Official Trump memecoin. Controversies surrounding these projects included insider trading allegations and stablecoin complications.
Critics have raised alarms over Trump’s involvement in crypto projects and his potential influence on US crypto policy. The disbandment of NCET aligns with efforts to comply with Trump’s executive order reshaping US crypto regulations. The impact of Trump’s pro-crypto stance on the industry remains a topic of discussion among lawmakers and regulatory agencies.
Read more at Cointelegraph: Trump administration reportedly shutters DOJ’s crypto enforcement team