DOJ Pulls Plug on NCET Amid Controversial Memo Leak
The National Cryptocurrency Enforcement Team (NCET) is apparently being dissolved by the US Department of Justice (DOJ). According to a Fortune journalist who claims to have seen the document in an April 8 report, United States Deputy General Todd Blanche made note of NCET’s disbandment in a four-page memo.
The Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution.
The official
In high-profile cases, such as the New York hush money case and federal trials involving confidential materials and the 2020 election, Blanche, the second-highest-ranking officer in the DOJ, defended US President Donald Trump.
NCET Shuts Down After Just Two Years Amid Major U.S. Crypto Policy Overhaul
While President Joe Biden was in office, the NCET was launched in October 2021. Lisa Monaco, the Deputy Attorney General at the time, stated that the unit’s goal was to target websites that assist criminals in concealing or laundering their income.
We want to strengthen our capacity to dismantle the financial ecosystem that enables these criminal actors to flourish and — quite frankly — to profit from what they’re doing.
Monaco
Since February 2022, the NCET has operated, and as of this writing, its website is still accessible. As part of the measures to adhere to Trump’s executive order from late January that reshaped US crypto policy, the disbandment is said to be effective immediately.
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