Trump Administration Shuts Down Crypto Fraud Unit
2025-04-12
The US Department of Justice, under the Trump administration, has immediately shut down the National Cryptocurrency Enforcement Team (NCET), which investigated cryptocurrency fraud. This move is part of the Trump administration's effort to scale back enforcement of white-collar and financial crimes, shifting resources to fighting drug trafficking and human smuggling. While the administration claims to be cracking down on criminals using crypto for illicit activities, experts express concern over the diversion of crucial resources. The Trump administration argues the DOJ shouldn't act as a digital asset regulator, focusing instead on individuals and organizations using crypto for terrorism, drug trafficking, and other crimes.