WASHINGTON—The U.S. Justice Department has unexpectedly disbanded its National Cryptocurrency Enforcement Team, marking a significant shift in the federal government’s approach to crypto-related crimes, CNBC reported.
According to a memo sent by Deputy Attorney General Todd Blanche, the responsibility for digital asset cases will now be distributed among U.S. attorney’s offices, with a primary focus on crimes linked to terrorism.
CNBC said that going forward, the document said efforts would now focus on “prosecuting individuals who victimize digital asset investors, or those who use digital assets in furtherance of criminal offenses such as terrorism, narcotics and human trafficking, organized crime, hacking, and cartel and gang financing.”
The disbandment of the unit is the latest in a series of sweeping regulatory reversals under President Donald Trump, who made crypto-friendly policies a centerpiece of his 2024 campaign. Established in 2022 under former President Joe Biden, the National Cryptocurrency Enforcement Team was tasked with addressing the illicit use of cryptocurrencies, CNBC added.