WASHINGTON: The US Justice Division is disbanding its Nationwide Cryptocurrency Enforcement Workforce and ordering prosecutors to focus as an alternative on legal investigations involving cartels and terrorist teams that use digital foreign money to finance illicit enterprise, in response to a memo seen by Reuters.
The memo from Deputy Lawyer Normal Todd Blanche, despatched out to staff late on Monday (Apr 7) night time, faulted Democratic President Joe Biden’s administration for beforehand pursuing a “reckless technique of regulation by prosecution” of the digital asset sector.
Going ahead, Blanche stated, the division will as an alternative prioritise investigations into “people who victimise digital asset buyers, or those that use digital property in furtherance of legal offenses resembling terrorism, narcotics and human trafficking, organised crime, hacking, and cartel and gang financing”.
A Justice Division spokesperson couldn’t be instantly reached for remark.
