Department of Justice Removes Cryptocurrency Division, Trump Further Deregulation of Digital Assets
2025-04-08 10:09:41
On April 8, according to Fortune magazine, the Department of Justice notified employees late Monday that the agency was disbanding a unit dedicated to cryptocurrency-related investigations. In a four-page memo reviewed by Fortune magazine, U.S. Solicitor General Todd Blanche announced the decision, saying: "The Department of Justice is not a digital asset regulator. However, the previous administration used the Department of Justice to implement a strategy of reckless regulation through prosecution." Blanche is the No. 2 official of the Department of Justice and a defense counsel during Trump's 2024 criminal trial. He wrote that the National Cryptocurrency Enforcement Branch (NCET) was "immediately" dissolved as part of the Justice Department's efforts to comply with Trump's January executive order on digital assets, which was intended to "establish regulatory clarity for the industry." As part of Monday's memo, Blanche directed Justice Department employees to focus on "prosecuting those who harm investors in digital assets," rather than pursuing cases of cryptocurrency exchanges, mixers like "Tornado Cash," and "offline wallets."
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