Overview

• The National Cryptocurrency Enforcement Team (NCET), established under the Biden administration in 2022, has been disbanded effective immediately, per a memo from Deputy Attorney General Todd Blanche.
• The move aligns with President Trump's January executive order, which emphasized regulatory clarity and reduced enforcement actions against crypto platforms and services.
• Prosecutors are now instructed to focus on individuals exploiting digital assets for criminal activities such as fraud, terrorism, and human trafficking, rather than targeting crypto exchanges or mixers for regulatory violations.
• Ongoing investigations inconsistent with the new priorities, including high-profile cases involving Tornado Cash and market manipulation, are being closed.
• This policy shift is part of a broader deregulatory agenda by the Trump administration, which includes easing crypto oversight by the SEC and CFTC, and has drawn both support from industry advocates and criticism from opponents.