Since the taking of the office by President Donald Trump, the US authorities have increasingly abdicated crimes related to cryptocurrencies for the police. Advocates and legislators are afraid that the resulting vacuum can be used to violate the rules with impunity.
When applying for the office, Trump repeatedly announced that he was a Bitcoin champion, and his family members were completely involved in the cryptographic industry. Over the past few months, his administration has decided to solve the principles of enforcing cryptocurrencies from the time of Biden nervousness The Civil Procedure Department, which was previously managed by the cryptographic industry and pardon The leadership of cryptocurrencies who pleaded guilty as part of the previous regime. Now the Department of Justice is also withdrawing from the enforcement of cryptocurrencies.
On Monday evening in letter All employees were replaced, Deputy Prosecutor General Todd Blanche announced that the Agency is deping of some criminal proceedings towards cryptographic companies, including the failure to prevent money laundering and obtaining a license for money transmission. As part of the change, the Dojs solve its national cryptocurrency enforcement team (NCET), a unit specializing in a crime related to cryptocurrency crime.
“The earlier administration used the Department of Justice to implement a reckless regulation strategy by the prosecutor’s office, which was poorly developed and poorly made,” said the letter. “The Department will no longer aim at virtual currency exchange, mixing and falling services, and offline wallets for the acts of its end users or unconscious violations of regulations.”
The Doj will continue to chase people who exploit cryptocurrencies in crimes, including terrorism, drug trafficking, hacking and other high priority crimes. But the recent position of the agency suggests that cryptographic companies will be able to play quickly and loosely with some laws, at least until the regulatory authorities leave the industry, the experts say.
“Rollers send a message that they are not really going to chase people for crimes related to cryptocurrencies or regulatory violations, unless it requires something serious,” says Christopher Lavigne, a former prosecutor and partner at the Withers Law Firm. “We hope that we gain greater clarity – a feasible system that prevents fraud, protects consumers and allows innovation in the field. Fear is what is happening in a vacuum.”
The Doctor did not answer immediately at the request for comment.
Deprioritisation of the enforcement of cryptocurrencies DIA is consistent with similar isolation by the Securities Commission and stock exchanges, a financial regulator who best led the cryptocurrency industry as former president Joe Biden, who recently withdrew from many matters composed of deafening cryptographic companies. “The demolition of the SEC enforcement program is a mammoth,” said one of the former SEC employee in February.
Elsewhere, Sec has he was distanced From supervision over memecoins, a cryptographic class, which usually has no strict goal but to act as a tool of financial speculation, which are often abused to squeeze money from unconscious investors. Shortly before the inauguration of Trump and his wife Melania introduced their own memecoins.
At the end of March, the president pardoned co -founders of Bitmex Exchange Crypto Exchange, who in 2022 pleaded guilty for the allegations related to the lack of maintaining the appropriate anti -slip program, which occurred after the horn of the creator of the silk road Ross Ulbricht, whose case became the cause of crypt. A month after Chinese entrepreneurs Justin Sun announced He has invested $ 75 million in World Liberty Financial, a cryptographic project with connections with the Trump family, SEC applied for a federal judge Stop the ongoing case for fraud against him and several of his companies. (The report on the case is expected to be sent this spring).