US Shuts Down Cryptocurrency Crime Investigation Unit

The US Department of Justice is closing the National Cryptocurrency Enforcement Team (NCET). This was reported by Fortune, citing a memo from Deputy Attorney General Todd Blanche.

The decision is part of the implementation of an executive order by President Donald Trump, aimed at simplifying the regulation of digital assets.

NCET was established in 2021 under the administration of Joe Biden. The unit conducted major cryptocurrency investigations, including the case against the mixer Tornado Cash and the hack of the Mango Markets protocol. The group also handled cases involving the theft of digital assets by North Korean hackers.

According to the new directive, Justice Department employees will no longer pursue actions against crypto exchanges, mixers, and offline wallets. Instead, the prosecution will focus on combating fraudsters using digital assets and those causing real harm to investors.

On March 6, Trump signed an order establishing a strategic Bitcoin reserve, which provides for the storage of assets confiscated by the Treasury in criminal and civil cases.

On March 20, the president urged Congress to pass a bill regulating stablecoins.