{"id":126708,"date":"2025-04-08T13:17:58","date_gmt":"2025-04-08T13:17:58","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126708"},"modified":"2025-04-08T13:17:58","modified_gmt":"2025-04-08T13:17:58","slug":"trump-administration-reportedly-shutters-dojs-crypto-enforcement-team","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126708","title":{"rendered":"Trump administration reportedly shutters DOJ\u2019s crypto enforcement team"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe United States Department of Justice (DOJ) is reportedly disbanding the National Cryptocurrency Enforcement Team (NCET).<br \/>\nNCET\u2019s disbandment was noted in a four-page memo by United States Deputy General Todd Blanche, according to a Fortune journalist who claims to have seen the document in an April 8 report. The official is quoted saying in the note:<br \/>\n\u201cThe Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution.\u201d<br \/>\nBlanche is the second-highest-ranking official in the DOJ and served as US President Donald Trump\u2019s defense attorney in high-profile cases, including the New York hush money case and federal cases related to classified documents and the 2020 election.<br \/>\nRelated: Trump tariff negotiations are \u2018all about\u2019 China deal \u2014 Raoul Pal<br \/>\nWhat is the NCET?<br \/>\nThe NCET\u2019s launch was established in October 2021 under President Joe Biden. At the time, Deputy Attorney General Lisa Monaco said that the unit was aimed at going after platforms \u201cthat help criminals launder or hide their criminal proceeds.\u201d She said:<br \/>\n\u201cWe want to strengthen our capacity to dismantle the financial ecosystem that enables these criminal actors to flourish and \u2014 quite frankly \u2014 to profit from what they\u2019re doing.\u201d<br \/>\nThe NCET has been active since February 2022, and at the time of publication, its website remains online. The disbandment is reportedly effective immediately and implemented as part of the efforts to comply with Trump\u2019s late January executive order reshaping US crypto policy.<br \/>\nNCET website. Source: US Department of Justice websiteRelated: US federal agencies to report crypto holdings to Treasury by April 7<br \/>\nTrump makes waves in US crypto policy<br \/>\nBefore returning to office, Trump campaigned on a pro-crypto policy. He promised the creation of a United States strategic Bitcoin (BTC) reserve, spoke at crypto conferences both before and after his reelection and promised to make the US a global crypto leader. He also picked a pro-crypto Securities and Exchange Commission chairman.<br \/>\nDespite the administration\u2019s favorable stance, critics have raised concerns over potential conflicts of interest. Trump and his family are behind the World Liberty Financial (WLFI) decentralized finance (DeFi) protocol, the Official Trump (TRUMP) memecoin and his Trump Media is launching crypto exchange-traded funds (ETFs) in partnership with Crypto.com.<br \/>\nThe projects themselves were also the source of multiple controversies, with the presidential memecoin being hit with insider trading allegations, later written off by some as MEV bot activity. Concerns were also raised about the WLFI\u2019s World Liberty Financial USD (USD1) stablecoin and how it could complicate ongoing bipartisan efforts to pass stablecoin legislation in Congress.<br \/>\nThis led to Five Democratic lawmakers in the US Senate calling on leadership at regulatory agencies to consider the potential conflicts of interest caused by the USD1 stablecoin in late March. Earlier in April, California Representative Maxine Waters suggested that Trump may be looking to replace the US dollar with his stablecoin.<br \/>\nMagazine: Trump\u2019s crypto ventures raise conflict of interest, insider trading questions<a href=\"https:\/\/cointelegraph.com\/news\/trump-administration-shutters-doj-crypto-enforcement-team?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe United States Department of Justice (DOJ) is reportedly disbanding the National Cryptocurrency Enforcement Team (NCET). NCET\u2019s disbandment was noted in a four-page memo by United States Deputy&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126708"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126708"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126708\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126708"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}