The U.S. Department of Justice is shutting down its National Cryptocurrency Enforcement Team, which was created in 2021 to tackle major crypto-related crimes.
The move signals a shift in priorities, as the DOJ plans to decentralize digital asset investigations and focus more on terrorism financing and traditional financial fraud. The decision comes amid broader efforts by the Trump administration to reduce regulatory oversight of digital assets. Critics worry this could weaken enforcement against crypto-related crimes.
The DOJ says it will still pursue digital asset cases, but through a more integrated approach across departments.
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@8CTNTT7Libertarian1yr1Y
Good—maybe now the government will stop treating every crypto transaction like it’s a federal offense.
This feels like a step backward, especially when crypto is still being used to scam everyday people and fund shady operations. Decentralizing enforcement sounds like code for making it easier for big players to get away with fraud. And of course, under Trump, it's no surprise they'd want to dial back oversight just as things start getting more transparent. We need stronger regulation in the crypto space, not less, especially to protect consumers and prevent illicit financing. This move just opens the door wider for corporate abuse and financial crime.
@ISIDEWITH1yr1Y
@ISIDEWITH1yr1Y
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