Senator Warren Criticizes DOJ for Ending Crypto Enforcement Team

Senator Warren Slams DOJ Over Crypto Crime Unit Shutdown

Senator Warren– U.S. Senator Elizabeth Warren and six fellow Senate Democrats have strongly criticized the Department of Justice’s (DOJ) recent decision to shut down its National Cryptocurrency Enforcement Team (NCET). In a letter dated April 10 and addressed to Deputy Attorney General Todd Blanche, the senators described the move as a “grave mistake,” arguing that it could enable serious crimes such as drug trafficking, child exploitation, and sanctions evasion.

Senators Richard Durbin, Mazie Hirono, Sheldon Whitehouse, Christopher Coons, and Richard Blumenthal joined Warren in signing the letter. The lawmakers expressed deep concern that terminating the NCET sends the wrong message to bad actors in the crypto space.

“It makes no sense for DOJ to announce a hands-off approach to tools that are being used to support such terrible crimes,” the letter stated, specifically pointing to crypto mixing services often used to obscure illicit transactions.

The senators also criticized the DOJ’s reluctance to prosecute crimes tied to digital assets, including violations of the Bank Secrecy Act. They argued that the decision “creates a systemic vulnerability in the digital assets sector,” potentially exposing the financial system to exploitation by criminals and foreign adversaries.

Additionally, the letter raised ethical concerns related to former President Donald Trump and his family’s involvement in the crypto industry. The lawmakers questioned whether political interests may have influenced DOJ decisions, pointing to Trump-affiliated projects like World Liberty Financial and a crypto-mining venture called American Bitcoin.

“Your decisions give rise to concerns that President Trump’s interest in selling his cryptocurrency may be the reason for easing law enforcement scrutiny,” the senators wrote.

The lawmakers requested a staff-level briefing by May 1 to explain the DOJ’s rationale behind disbanding the NCET.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.