Washington (AP) – The Ministry of Justice dissolves a team of prosecutors who targeted cryptocurrency crimes and focuses on complex cases related to cryptography involving banking law and securities, according to a memo examined by the Associated Press.
“The Ministry of Justice is not a regulator of digital assets,” said deputy prosecutor Todd Blanche in a service note sent to prosecutors on Monday.
It is the last movement by the Trump administration To try to stimulate The cryptocurrency industry while canceling the efforts of the Biden administration to suppress criminal in the industry. Trump administration’s efforts have included A similar change In application priorities linked to crypto at Securities and Exchange Commission. The white memo is part of A larger movement By the Ministry of Justice, to step back from certain white passes to align with President Donald Trump’s priorities to fight illegal immigration, gangs and drug crimes.
Blanche said that the Biden administration had used the department to “continue a reckless regulatory strategy by prosecution, which was poorly designed and poorly executed”. Instead, said Blanche, the priorities linked to the narrower cryptography of the department will target people and entities who rip up cryptographic investors or use digital assets to finance criminal conduct such as human trafficking, drugs or terrorism.
The cryptography industryWho spent strongly to help Trump win the election, has long complained that the Biden administration has unjustly targeted innocent actors with criminal or civil measures. Opposing the current criminal affair against the developers behind Tornado Cash, a goblet used to hide the property of cryptographic assets, was a famous cause among some confidentiality and crypto enthusiasts.
“We should consult the bad guys. Not the developers of good tools that the bad guys use,” said Peter Van Valkenburgh, executive director of the Coin Center defense group, on X at the praise of the Blanche memo.
The national team of application of cryptocurrencies was created during the administration of President Joe Biden with the explicit goal of targeting exchanges, mixers and others “which allow misuse of cryptocurrency and related technologies to commit or facilitate criminal activity”.
But Blanche said that this type of entities will no longer be targeted for “the acts of their end users or involuntary violations of the regulations”.
Blanche said that the dissolution of the National Crypto-Monnaies Application of Laws Application was in force immediately. He also declared that the unit of integrity of the market and major fraud “would cease the application of cryptocurrencies in order to focus on other priorities, such as immigration and fraud to supply”.
Once a skeptical crypto, Trump, a republican, is committed to making the United States the world capital of crypto. He and his sons also have sought to develop Their personal fortune with various companies related to crypto.
