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ZyCrypto 2025-04-09 03:44:59

US Department of Justice Disbands Crypto Investigation Unit — Great for Crypto?

US Department of Justice Disbands Crypto Investigation Unit — Great for Crypto?

The United States Department of Justice (DOJ) has scrapped the National Cryptocurrency Enforcement Team (NCET). This decision follows recent moves by the Trump administration to loosen tough restrictions on the industry. According to industry executives, President Trump’s policies will spark innovation in crypto and capital flow. DOJ To Shift Regulatory Focus The Department announced the decision to disband the unit and focus on prosecuting the victimization of digital asset investors. US Deputy Attorney General Todd Blanche noted that the DOJ is not a crypto regulator and that the previous administration used the Department to carry out reckless regulation through a prosecution strategy. “ Consistent with the narrowing of enforcement policy relating to digital assets, the Market Integrity and Major Funds Unit shall cease cryptocurrency enforcement to focus on other priorities, such as immigration and procurement frauds. The National Cryptocurrency Enforcement Team (NCET) shall be disbanded effective immediately,” the statement read. This adds to the Trump administration’s recent moves to ease regulatory tension and usher in clearer rules. The previous administration embarked on a regulation-by-enforcement approach with a lack of clear rules, which led to a plethora of litigation against digital asset companies and executives. NCET was established in 2021 to regulate the industry, citing investor protection, among other reasons. The unit was involved in major cases, including the Tornado Cash and Avraham Eisenberg investigations. The Department charged Tornado Cash with money laundering, while Eisenberg was charged in the infamous Mango Market’s $100 million exploit. However, Gary Gensler’s led Securities and Exchange Commission (SEC) played the most role in the last administration’s “war” on the market. The Commission has moved to pause the cases involving Binance and other firms pending a possible resolution. Trump’s Crypto Master Plan Taking Shape On the campaign trail, President Trump pledged to make the United States the world’s crypto and Artificial Intelligence (AI) capital. After his election win, Trump nominated pro-crypto candidates to key positions, restating his commitment to ushering in innovation. So far, the administration has established a crypto task force and issued an executive order for a strategic bitcoin reserve . Furthermore, states have also introduced legislation to establish a Bitcoin and crypto reserve. These policies have ignited a major institutional appetite in the U.S. crypto market. However, the White House’s recent tariff decisions have sent prices of crypto assets downwards in correlation to the stock market.

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