--- title: "Trump Tells Justice Department to Just Let Crypto Fraud Slide" description: "The Trump administration's Justice Department has been directed to disband a team of prosecutors, who were investigating cryptocurrency crimes. In a memo making its rounds, deputy attorney general Todd Blanche argued that the \"Department of Justice is not a digital assets regulator,\" accusing Biden of using the department to \"pursue a reckless strategy of regulation by prosecution, which was ill conceived and poorly executed.\" It's a desperate bid to boost the crypto industry, which comes as markets are still reeling from president Donald Trump's tariff war. The latest news indicates the White House is looking to turn a blind eye […]" date: "2025-04-08" modified: "2025-04-08" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/trump-justice-department-crypto-fraud" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "cryptocurrencies" - "cryptocurrency regulation" - "donald trump" - "white house" --- # Trump Tells Justice Department to Just Let Crypto Fraud Slide ![The Trump administration's Justice Department has been directed to disband a team of prosecutors who'd been investigating crypto crimes.]() *\Image: Getty / Futurism\* The Trump administration's Justice Department has been directed to disband a team of prosecutors who'd been investigating cryptocurrency crimes. In a memo, deputy attorney general Todd Blanche argued that the "Department of Justice is not a digital assets regulator," accusing Trump's predecessor Joe Biden of using the department to "pursue a reckless strategy of regulation by prosecution, which was ill conceived and poorly executed." Specifically, the memo calls for the National Cryptocurrency Enforcement Unit (NCET) to be disbanded "effective immediately" to comply with Trump's January [executive order]() related to digital assets. The task force was established in 2021, and was made up of prosecutors and attorneys specializing in money laundering and cybercrime. It has previously investigated shady cryptocurrency "tumblers" or "mixers" that blend crypto funds to obscure their original source, as well as [North Korean hackers]() who assisted in money laundering using crypto. Trump was once a staunch foe of the crypto industry, but [changed his tune]() after its power players started supporting him financially. Earlier this month, he [issued a pardon to a cryptocurrency exchange]() that had been fined $100 million for violating an anti-money laundering law. He also recently [pardoned Ross Ulbricht](), former darknet kingpin of the online marketplace Silk Road. Trump is also financially tied to the industry, having [launched a memecoin]() as well as a crypto venture. However, whether the president actually understands how cryptocurrencies work remains unclear at best. "Crypto is one of those things we have to do," Trump [said during an announcement]() of the venture in September. "Whether we like it or not, I have to do it." Now he's dismantling mechanisms designed to hold those who exploit cryptocurrencies for fraud responsible. That's despite the crypto community seemingly being at odds with how the president has gone about things so far. His memecoin, dubbed TRUMP, proved highly controversial in crypto circles, with some [accusing him]() of "making a mockery of the industry." However, other crypto advocates are celebrating the latest move. "We should be going after bad guys," advocacy group Coin Center executive director Peter Van Valkenburgh [tweeted](). "Not the developers of good tools that bad guys happen to use." Critics, however, pointed out that Trump is already using digital assets to accumulate wealth with close to zero oversight. "The president is running a crypto scam where he can receive millions of dollars anonymously," *MSNBC* analyst Tim Miller [tweeted](). "Meanwhile the DOJ has shut down the crypto investigations unit." "Truly no corruption scheme like this in our history at least out of the White House," he added. **More on Trump and crypto:** *[Bitcoin Is Crashing Hard]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()