Boom! DOJ Blows Up Crypto Watchdog Unit, Labels Past Tactics "Reckless"

Trump's Team Cuts Loose the Leash on Crypto

Holy smokes! The U.S. Department of Justice just dropped a bombshell by disbanding the National Cryptocurrency Enforcement Unit, calling out its previous moves as a "reckless strategy." Can you believe it?

Word on the street, straight from a four-page memo by U.S. Deputy Attorney General Todd Blanche, is that this crypto cop unit is being shut down "effective immediately." Yep, it's all part of the Trump crew's big push to ease up on the crypto scene.

"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," Blanche laid it down in the memo. No mincing words there!

After dropping this news, Blanche told DOJ folks to chill on chasing crypto exchanges, mixers, and "offline wallets." Instead, they're told to go after the bad actors "who victimize digital asset investors." A shift in focus, indeed!

Crypto Cops' Big Cases: From Tornado Cash to North Korean Hackers

This unit, born during Joe Biden's time, was a powerhouse squad made up of pros from the Justice Department's money laundering and cybercrime units, plus other district offices.

They were behind some mega crypto cases, like the one against Tornado Cash. This mixing service got hit with money-laundering charges, and it was huge news.

Tornado Cash's co-founder, Roman Storm, is staring down the barrel of up to 45 years in the slammer for running an unlicensed money-transmitting biz, conspiracy to launder money, and dodging sanctions. But hey, the crypto world rallied around him, seeing it as an attack on software devs.

And just when you thought it couldn't get any wilder, the U.S. Treasury went and lifted the sanctions on Tornado Cash on March 21, letting Americans dive back in.

Oh, and let's not forget Avraham Eisenberg, the hacker who snagged over $114 million from the Mango Markets trading protocol. Last January, the platform threw in the towel, giving users a last chance to close up shop before it went dark for good.

But wait, there's more! This unit also chased down North Korean baddies laundering cash from crypto heists. Talk about a rollercoaster!