Trump’s DOJ will no longer prosecute cryptocurrency fraud
The Trump administration is disbanding a Department of Justice unit dedicated to enforcing cryptocurrency fraud, ending what it calls aregulation by prosecution.a
In a memo obtained by The Washington Post, deputy attorney general Todd Blanche directed federal prosecutors to cease alitigation or enforcement actions that have the effect of superimposing regulatory frameworks on digital assets.a Prosecutors were told to ano longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwittingly violations of regulations.a Blanche ordered prosecutors to close ongoing investigations that are ainconsistenta with the new policy.
Trump, a former cryptocurrency skeptic, has reversed course in recent years, positioning himself as the crypto industryas political champion and receiving donations from crypto billionaires in turn. He headlined the 2024 Bitcoin Conference in Nashville, and launched his own acrypto platforma ahead of the presidential election. As president, he has helped enrich the crypto interests that helped him get elected a and now heas effectively promising to deregulate the indus …