The U.S. Department of Justice (DOJ) axed its crypto unit on Monday, telling staff that the DOJ would be “narrowing” its crypto enforcement activities in accordance with U.S. President Donald Trump’s January executive order on digital assets, which pledged to establish “regulatory clarity and certainty” for the crypto industry.
In his four-page memo to staff titled “Ending Regulation by Prosecution,” U.S. Deputy Attorney General Todd Blanche announced that the National Cryptocurrency Enforcement Team (NCET) — created in 2022 under then-President Joe Biden — would be “disbanded effective immediately.”
“The Department of Justice is not a digital assets regulator,” Blanche wrote in the memo seen by CoinDesk. “However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution, which was ill conceived and poorly executed. The Justice Department will no longer pursue litigation or enforcement actions that ha
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