April 11, 2025
By Our Correspondent
The Trump administration has officially dissolved the National Cryptocurrency Enforcement Team (NCET), as stated in a memo released by the Department of Justice (DOJ) on Monday. This decision is part of their initiative to eliminate regulatory structures surrounding the expanding digital finance sector. Deputy Attorney General Todd Blanche announced that the NCET will be “disbanded effective immediately,” and indicated that the Computer Crime and Intellectual Property Section (CCIPS) of the Criminal Division will provide guidance to DOJ officials while collaborating with the cryptocurrency and digital asset industry.
Additionally, the DOJ has instructed the Market Integrity and Major Frauds Unit to cease its cryptocurrency enforcement activities and redirect its focus towards immigration and procurement fraud cases. The memo clarifies that “The Justice Department will no longer engage in litigation or enforcement actions that impose regulatory frameworks on digital assets while President Trump’s designated regulators handle this task outside of the punitive criminal justice system.”
These adjustments were made in accordance with a January executive order aimed at establishing “well-defined jurisdictional regulatory boundaries” to enhance U.S. leadership in the cryptocurrency arena. Since his return to the White House, Trump has emphasized the importance of government deregulation and has initiated the creation of a government reserve of bitcoin, along with a “digital asset stockpile.”
He also hosted a Crypto Summit at the White House last month. Democrats have criticized Trump’s initiatives, arguing that they will financially benefit him due to his significant investments in the cryptocurrency sector. “The establishment of a strategic cryptocurrency reserve is likely to profit the President and his close associates at the expense of American taxpayers,” stated Rep. Gerry Connolly (Va.), the leading Democrat on the Oversight Committee, in a letter to Treasury Secretary Scott Bessent in March.
The memo issued on Monday indicates that the Department of Justice will now focus on prosecuting individuals who exploit digital asset investors, as well as those who utilize digital assets to facilitate criminal activities, including terrorism, drug trafficking, human trafficking, organized crime, hacking, and the financing of cartels and gangs.
