The U.S. Department of Justice (DOJ) disbanded its crypto investigation unit on Monday, marking another step from President Donald Trump to support the crypto industry and lighten the regulatory burden of potential crypto crime investigations that had started under the Biden administration.
The move was announced in a memo from U.S. Deputy Attorney General Todd Blanche, which was sent to the department’s staff Monday. The memo also included language declaring that the National Cryptocurrency Enforcement Unit (NCET) was no longer active “effective immediately.”
“The 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,” Blanche reportedly wrote in the memo.