"US Department of Justice to Disband Virtual Asset Investigation Task Force"

Son Min

Summary

"The US Department of Justice announced the disbandment of the 'National Cryptocurrency Enforcement Team (NCET)', shifting focus from direct regulation of virtual assets to investor protection."
"Todd Blanche, Deputy Attorney General of the US Department of Justice, conveyed that the focus will be on investigating criminals who have harmed rather than virtual asset exchanges or mixers."
"It was mentioned that the National Cryptocurrency Enforcement Team, created during the Biden administration, has been responsible for investigating virtual asset mixing protocols and North Korean hacker groups."

The United States Department of Justice is disbanding the task force (TF) 'National Cryptocurrency Enforcement Team (NCET)' that was dedicated to investigating virtual assets (cryptocurrencies).

According to a report obtained by Fortune on the 8th (local time), Todd Blanche, Deputy Attorney General of the US Department of Justice, stated, "The Department of Justice is not a regulatory agency for virtual assets. However, the previous administration used the Department of Justice to pursue reckless (virtual asset) regulations," and announced, "In accordance with President Trump's executive order, the National Cryptocurrency Enforcement Team is immediately disbanded."

He further emphasized that the focus should be on investigating criminals who have harmed virtual asset investors rather than investigating virtual asset exchanges and mixers.

Meanwhile, the National Cryptocurrency Enforcement Team was a joint task force created during the Biden administration and has been investigating virtual asset-related incidents such as the Tornado Cash mixing protocol and North Korean hacker groups.