According to the US Department of Justice, the US Department of Justice dissolves the national cryptocurrency enforcement unit (NCET) to comply with the regulatory transformation of President Donald Trump towards digital assets.
Doj solves the encryption enforcement unit
On Monday evening, the Ministry of Justice informed its employees that NCET, the unit designated for encrypted investigations, will be resolved “immediately effective”, wealth a report Claims. The news media outlet reviewed a four -page memorandum to announce the decision and criticize the previous administration campaign against the industry.
“The Ministry of Justice is not an organizer of digital assets. However, the previous administration used the Ministry of Justice to follow up on a reckless strategy of the organization through the prosecution.”
Blanche, the second high -ranking official in the Ministry of Justice, explained that the solution to the encryption enforcement unit was part of the agency's actions, “compliance with Trump's executive order of digital assets”, with the aim of proving the regulatory clarity of the encryption sector.
Moreover, the Deputy Prosecutor of the Ministry of Justice employees said in the memo to focus on “the trial of individuals who strike the investors of digital assets” instead of exchanging encryption, mixers, and “the governor not connected to the Internet,” according to the report.
NCET was a joint workplace established in October 2021 under the administration of Biden, and it was active since February 2022. It was formed with the prosecutors of money laundering units and electronic crimes at the agency and lawyers from other provinces.
The enforcement unit has worked on some of the most prominent cases of encryption, including Avraham Eceenberg and Tornado Cash, which was recently removed from the list of US Treasury citizens (SDN) in the Treasury (OFAC).
A new organizational era in the United States
The movement of the Ministry of Justice follows the efforts of the Trump administration to develop clear organizational guidelines to protect investors and develop industry. According to the US Securities and Exchange Committee (SEC), similar measures to end the previous “regulations through implementation” approach.
As Bitcoinist reported, SEC has reduced its own unit for encryption enforcement procedures in February. Five sources of the New York Times told the members of the Special Unit of the Committee in other SEC sections.
The department was established in 2017 during the first Trump administration, and it was consisted of lawyers and employees dedicated to providing industry -related enforcement procedures. However, it has grown greatly under the supervision of Gary Ginsler.
The SEC enforcement unit has doubled its size to 50 dedicated locations in May 2022, bringing more than 100 encryption procedures during the Biden administration, claiming “related to the offers of fraudulent and unregistered fragrances.”
It should be noted that the committee, on the behalf of the Acting President, Mark Uida, established a coding work team to review the agency's approach to digital assets. The work group, led by Commissioner Hyster Peres, follows a “more fun and less dangerous” approach than the SEC strategy in the past decade.
As part of these efforts, the organizational agency hosts four rounds of digital assets in the coming months. Modern reports open The representatives of the main players in the industry, such as Coinbase and UISWAP LABS, will attend the first round table, scheduled for April 11.
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