US Department of Justice Reportedly Shuts National Cryptocurrency Enforcement Team

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A recent report indicates the US Department of Justice (DoJ) has dissolved the National Cryptocurrency Enforcement Team (NCET), a unit created under President Biden’s administration. An internal memo alerted NCET members of the immediate shutdown. This action coincides with efforts by President Trump to facilitate cryptocurrency adoption in the US through executive orders, including one focusing on strategic crypto initiatives. The NCET was initially formed to address criminal activities involving digital assets, signifying a previous focus on regulation and enforcement. The disbandment suggests a shift in the administration’s approach towards cryptocurrency, potentially prioritizing innovation and development over strict oversight.

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