DOJ Crypto Policy Criticized by Senators

The U.S. Department of Justice (DOJ) is disbanding its National Cryptocurrency Enforcement Team (NCET), a move strongly criticized by Democratic Senators, including Elizabeth Warren, who argue it gives a 'free pass' to crypto money launderers and enables crimes such as sanctions evasion, drug trafficking, and child sexual exploitation. Deputy Attorney General Todd Blanche cited a shift toward a more crypto-friendly regulatory environment under President Trump's executive order, stating the DOJ will now focus on targeting individuals using digital assets for illicit activities rather than prosecuting exchanges and mixers. The Senators have requested a detailed briefing on the decision's rationale, expressing concerns over systemic vulnerabilities that criminals could exploit. This policy shift marks a departure from the previous administration's more aggressive approach to crypto regulation and enforcement. Critics have also highlighted potential conflicts of interest due to the Trump family's involvement in cryptocurrency ventures.