The American President Donald Trump has dissolved the crypto enforcement team founded by his predecessor Joe Biden. The Ministry of Justice states to continue the fight against cryptocrimity with a new focus. Nevertheless, there are concerns that some illegal activities could now continue undisturbed.
Trump relocates the cryptor regulation
According to a command from Trump, the American Ministry of Justice has dissolved the National Cryptocurrency Enforcement Team and is now focusing on crypto use of terrorists and drug cartels. Reuters reports that Todd Blanche, the deputy general prosecutor, calls cryptopolitics among bidges a “ruthless strategy of regulation through persecution”.
The team was founded in 2022 to track down criminal crypto transactions. According to Blanche, this mission does not change essentially, but the type of procedure. While the former team was concerned with the crypto bonds and platforms, Blanche explains that the focus is now on the criminals themselves.
The team, which was under the leadership of the national security clerk Eun Young Choi, played a role in several major crypto cases. One example is the case against Avraham Eisenberg in 2022, which was found guilty of market manipulation and has stolen $ 110 million.
A new crypto posture
This last executive of Trump is in line with its general attitude towards crypto. In November, the elections won the elections thanks to his promises to turn the United States to the crypta capital of the world and to loosen the crypto regulation. Trump is now taking great steps in this area.
Trump has also restructured the American stock exchange supervisory authority, the Securities and Exchange Commission (SEC). This is mostly good news for the crypto sector. In the past, the SEC has strictly acted against crypto projects, of which the notorious legal dispute against Ripple is a good example. Under a new leadership, the attitude of the SEC has changed and the commission dropped several lawsuits.
Trump benefits from loose regulation
The American President himself is personally involved in the crypto sector. Trump and his wife Melania both started their own cryptoma coins around the inauguration in January. The start was accompanied by a lot of excitement and received criticism after the value broke strongly shortly after the start.
Together with his family, Trump also heads the World Liberty Financial (WLF) crypto project. Trump plans to bring out his own stable coin with WLF. The White House is currently working on legislation to regulate this.