End of an Era for Cryptocurrency Enforcement

In a surprising move, the United States Department of Justice (DoJ) has announced the dissolution of the National Cryptocurrency Enforcement Team (NCET). This decision, revealed through a memo from Deputy Attorney General Todd Blanche, marks a significant shift in the government's approach to cryptocurrency regulation.

Controversy Behind the Decision

Blanche's memo criticized the Biden administration for leveraging the DoJ and the NCET in what he described as a "reckless strategy of regulation by prosecution." He argued that the department's focus should be on protecting digital asset investors from criminal activities rather than acting as a de facto regulator of the digital assets space.

Looking Ahead

The disbandment of the NCET raises questions about the future of cryptocurrency enforcement in the U.S. and whether this signals a broader change in policy towards digital assets.