DoJ Disbands National Cryptocurrency Enforcement Team

The United States Department of Justice (DoJ) has officially dissolved the National Cryptocurrency Enforcement Team (NCET), a move that has sparked controversy and debate. According to a memo obtained by Fortune, Deputy Attorney General Todd Blanche announced the team's disbandment, criticizing the Biden administration's approach to cryptocurrency regulation.

Controversy Over Cryptocurrency Regulation

Blanche's memo accuses the administration of leveraging the DoJ, including the NCET, to enforce a "reckless strategy of regulation by prosecution." He argues that the department's focus should be on prosecuting criminals who exploit digital asset investors, rather than acting as a de facto regulator of the cryptocurrency market.

Implications for the Future of Crypto Enforcement

The dissolution of the NCET raises questions about the future of cryptocurrency regulation and enforcement in the United States. With the team's attorneys now reassigned, the DoJ's approach to digital assets is under scrutiny.