DoJ Disbands National Cryptocurrency Enforcement Team

The United States Department of Justice (DoJ) has officially dissolved the National Cryptocurrency Enforcement Team (NCET), a move confirmed by a memo from Deputy Attorney General Todd Blanche. Established in 2022, the NCET was tasked with investigating criminal activities involving cryptocurrencies and digital assets, comprising attorneys from various divisions within the DoJ.

Regulatory Strategy Under Fire

In the memo, Blanche criticized the Biden administration for leveraging the DoJ, including the NCET, to implement what he described as a "reckless strategy of regulation by prosecution." He advocated for a shift in focus towards prosecuting individuals who exploit digital asset investors, rather than the department assuming the role of a "digital assets regulator."