The United States Department of Justice (DOJ) eliminated its cryptographic unit on Monday, telling the personnel that the Department of Justice would be “reducing” its cryptography application activities in accordance with the executive order of the president of the United States. UU. Donald Trump on digital assets, which promised to establish “regulatory clarity and certainty” for the cryptographic industry.
In its four -page memorandum to the personnel entitled “Final Riscover Regulation”, the United States Deputy Attorney General, Todd Blanche, announced that the National cryptocurrency Control Team (NCET), created in 2022 under the then President Joe Biden, would be “dissolved immediately.”
“The Department of Justice is not a digital asset regulator,” Blanche wrote in the Memorandum seen by Coendesk. “However, the previous administration used the Department of Justice to follow an imprudent strategy of prosecution regulation, which was badly conceived and poorly executed. The Department of Justice will no longer seek litigation or application actions that have the effect of superimposing regulatory frameworks on digital assets, while the royal regulators of President Trump will do this work outside the criminal justice framework.”
Blanche informed the personnel that the Department of Justice would no longer be looking for cases against cryptographic exchanges, mixing services or wallets offline “for the acts of its end users or involuntary violations of regulations.” Personnel were ordered not to charge regulatory violations in cases involving cryptography, including the violations of the Banking Secretation Law (BSA), money without license and other violations linked to federal laws of basic values and products.
On the other hand, the DOJ personnel were ordered to concentrate their resources on “prosecuting people who victimize digital asset investors” or who use cryptography in promoting criminal activities such as terrorism or gang financing.
“The ongoing investigations that are inconsistent with the above should be closed,” Blanche wrote, adding that his office will work with the Criminal Division of the DOJ to “review the current cases with this policy.”
NCET is not the first Cryptographic Federal Working Group to be dissolved since Trump took office in January. The United States Product Future Trade Commission (CFTC) cut several specialized execution teams, including a cryptocurrency -centered equipment, up to only two as part of Caroline Pham’s interim president’s plan to increase efficiency and “stop regulation by the application.”
NCET worked in many of the Cryptographic cases of high profile of the DOJ in recent years, including the tornado in Cryptomonitres cash and several of its developers and market exploiters of mango market Avi Eisenberg, who faces the sentence at the end of this week after being condemned for fraud and manipulation of the market.
The memorandum occurs a week and a half after Trump forgave the Bitmex crypto trade platform and its superior founders and executives after their guilt statements of the positions of the Bank Secret Law.
