The U.S. Department of Justice (DOJ) has officially shut down its digital assets crime division, the National Cryptocurrency Enforcement Team (NCET), in a big policy change under President Donald Trump’s administration.

This is a 180-degree change from the Biden-era approach that used enforcement to regulate digital assets.

The move was announced in a four-page memo from Deputy Attorney General Todd Blanche, who was Donald Trump’s defense attorney.

Blanche wrote the DOJ “is not a digital assets regulator” and slammed the Biden administration for what he called a “reckless strategy of regulation by prosecution.”

Formed in 2021 under President Joe Biden, the…

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