In a letter on Thursday, Democratic senators sharply criticized Deputy Secretary of the Department of Justice Todd Blanche for his decision to divert the Justice Department from its cryptocurrency enforcement priorities and disband the cryptocurrency enforcement team. Six Democrats, including Senator Elizabeth Warren, said in the letter that the decision to "let go" cryptocurrency launderers was a "serious mistake" that would encourage sanctions evasion, drug trafficking, fraud and child sexual exploitation.
Blanche, who served as President Donald Trump's defense counsel in 2024, directed the immediate closure of the Justice Department's cryptocurrency litigation division to match the current administration's friendly approach to cryptocurrency regulation.
Thursday's letter specifically challenged Mr. Blanche's announcement that the Justice Department would "no longer target" cryptocurrency exchanges and hybrid services, citing previous statements and rulings that found hybrid services to be a primary means of laundering stolen cryptoassets by cybercriminals, including North Korean hackers.
U.S. Senate Democrats have condemned the Justice Department for dismantling the cryptocurrency unit, calling it "unjustified."
2025-04-11 03:18:10
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