- DoJ gives the boot to its crypto enforcement squad. 🥳
- DoJ pins the blame on Biden’s “wild west” crypto strategy. 💥
The U.S. Department of Justice (DoJ), in an astonishing turn of events, has decided to close its crypto enforcement unit. A huge victory for the crypto world, if you ask anyone not directly involved with the government. 😏
In a memo to employees dated April 7th, Todd Blanche, the Deputy Attorney General (or, as he prefers to be called, the “defender of justice”), said,
“The Market Integrity and Major Frauds Unit shall cease cryptocurrency enforcement to focus on more important things like immigration and procurement frauds. Oh, and the National Cryptocurrency Enforcement Team (NCET)? It’s gone. Poof. Effective immediately.”
DoJ Not Quite the ‘Crypto Cop’ You Thought It Was 👮♂️
Blanche was quick to blame President Trump’s orders and pointed an accusing finger at the Biden administration, calling it a “reckless strategy of regulation by prosecution.” Apparently, the DoJ was never meant to be the sheriff of digital assets. Who knew? 😜
From here on out, the DoJ will focus on, well, a whole lot of stuff that sounds suspiciously criminal:
“People who use digital assets for bad things like terrorism, human trafficking, drugs, hacking, and financing gangs and cartels. All the good stuff.”
Meanwhile, in the past two months, the Trump-led SEC (Security Exchange Commission—don’t worry, we didn’t make that up) has been undoing much of the damage done by the previous administration to crypto firms like Coinbase, Binance, and Ripple. A nice reversal of fortune. 🍀
Reacting to the monumental update, Amand Tuminelli, Chief Legal Officer at DeFi Education Fund, was thrilled, calling it “good vibes.” 🌈
“The vibes here are very good. No more prosecution by regulation. 🎉”
Paul Grewal, Coinbase’s legal chief, chimed in with a similar sentiment, stating that “main justice has spoken.” Just don’t ask what “main justice” actually means. 🤷♂️
On the flip side, critics have been grumbling about President Trump’s possible conflicts of interest in the crypto space, notably with the TRUMP memecoin and his other financial exploits through World Liberty Financials. But let’s not get bogged down in those pesky details, shall we? 🧐
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2025-04-09 20:11