While Donald Trump uses firmly commitment worldwide on trade conflicts and rates, on the other hand, something very different happens in the crypto world. His government has decided to immediately lift the crypto enforcement team of the Department of Justice (DOJ). A striking choice that fits into a wider, bullish attitude towards digital currency.
A “reckless strategy” under Biden
The team, fully the ‘National Cryptocurrency Enforcement Team (NCET)’, was created under former President Joe Biden to tackle criminal activities with digital currency. It saw the daylight in October 2021 and officially started working in early 2022.
The focus was on platforms that may have been involved in money laundering practices and other financial crimes within the crypto world. And we have certainly noticed that in recent years: various crypto companies came under fire due to solid actions from the NCET.
But according to an internal memo, viewed by Nieuws Platform Fortune, it is now officially swept off the table. The memo comes from Todd Blanche, the deputy attorney general and former lawyer of Trump. He clearly states that the Ministry of Justice is not a supervisor in the field of digital assets, and that the previous government conducted a “reckless strategy of regulation through prosecution”.
Trump en crypto
By lifting this team, Trump sends a clear signal: he opts for a completely different approach to crypto regulation. And to be honest, that is not entirely a surprise. Trump is increasingly showing himself as a pronounced proponent of digital currency. In fact, he is fully involved in it himself. For example, he has launched his own memecoin – the Trump Token – and is indirectly involved in the Decentralized Finance (Defi) Platform World Liberty Finance (WLFI). It is clear that Crypto plays an increasingly important role in his political and financial agenda.
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Source: https://newsbit.nl/einde-crypto-oorlog-donald-trump-schrapt-handhavingsteam/
