The Department of Justice dismantled its National Cryptocurrency Enforcement Team to focus on targeting drug cartels and terrorist organizations that use digital assets to carry out crimes.
In a memo sent to employees Monday evening, DOJ Deputy Attorney General Todd Blanche announced that “effective immediately,” the department would slash NCET, which he described as a “reckless strategy of regulation by prosecution” left over from the Biden era. Blanche cited a Jan. 23 executive order issued by President Donald Trump that called for the government to promote “the ability of individual citizens and private-sector entities alike to access and use for lawful purposes open public blockchain networks without persecution” as the basis for the overhaul.
Blanche wrote that the DOJ “will no longer target virtual currency exchanges,
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