US Department of Justice Disbands National Cryptocurrency Enforcement Team (NCET)

The National Cryptocurrency Enforcement Team (NCET) is being disbanded by the United States Department of Justice (DOJ), as reported. The disbandment was communicated in a memo by Deputy General Todd Blanche, with the official stating that the DOJ is not a regulator of digital assets and criticizing the previous Administration's approach to regulation through prosecution. Blanche, the second-highest-ranking official in the DOJ, previously served as President Trump's defense attorney in high-profile cases. The NCET was launched in October 2021 under President Biden to target platforms facilitating criminal money laundering, with the disbandment reportedly aligning with Trump's executive order on crypto policy. Trump's involvement in various crypto projects has raised concerns about potential conflicts of interest and insider trading allegations, prompting calls for regulatory agencies to address these issues.