Home Business Justice Dept. Says It Will Pull Back On Litigating Cryptocurrency Fraud

Justice Dept. Says It Will Pull Back On Litigating Cryptocurrency Fraud

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The Justice Department has directed prosecutors to stop pursuing litigation against people committing fraud with digital currency, the latest example of the Trump administration easing up on white-collar crime enforcement.

In a memo sent to the Justice Department on Monday night, Deputy Attorney General Todd Blanche said the department will no longer participate in regulation in the digital asset space and will instead focus on crimes that people commit with cryptocurrency, such as dealing narcotics and human trafficking.

Specifically, Blanche said the Justice Department will largely not bring cases that violate the Bank Secrecy Act or contain unregistered broker dealer violations and other registry requirements under the Commodity Exchange Act.

The memo said the National Cryptocurrency Enforcement Team would be disbanded effective immediately.

Faith Based Events

Carol D. Leonnig contributed to this report.

This is a developing story. It will be updated.


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