Trump’s signs of the Bitcoin Strategic Reserve
President Trump signed a prescription on Thursday to create a strategic federal reserve of Bitcoin, reporting new federal support for cryptocurrency in general and Bitcoin in particular.
Scripps News
Washington-The Ministry of Justice has closed its unit which is investigating the cryptocurrency fraud “immediately immediately”, even if the Trump administration accelerates its adoption of the emerging digital currencies market, according to a memo by the TOUR-CONTRACTOR TODD BLANC.
In a memo sent on Monday evening, Blanche led the closure of the national cryptocurrency law enforcement team and ordered prosecutors to pivot to investigate transnational criminal organizations and terrorist groups that use crypto to engage in illicit transactions.
This decision is one of the many efforts of the Trump administration to reduce the application of white passes and financial crimes and divert resources towards the fight against drug traffickers and human smugglers linked to immigration.
In his four -page memo, Blanche said that the new order was supposed to bring the Ministry of Justice in accordance with the executive decree of Trump 14178, which has declared this clarity and this certainty concerning the policy of application “are essential to support a dynamic and inclusive digital economy in digital assets”.
Blanche, one of the many lawyers for Trump’s criminal defense in the best ranks of the DoJ, said that the president “also said that” (W) e was going to end regulatory weapons against digital assets “.”
“The Ministry of Justice is not a regulator of digital assets,” wrote Blanche. “However, the previous administration used the Ministry of Justice to pursue an imprudent regulatory strategy by prosecution, which was poorly designed and poorly executed.”
Experts in corruption and transnational crime have warned that the closure of the unit could divert the critical resources of efforts to prevent criminals and corrupt diets from using cryptocurrency for illegal gain, even if Trump claims that he wants to quit against them.
“Dangerous American adversaries are based on cryptocurrencies to whiten money and escape sanctions,” said Nate Sibley, anti-corruption expert and director of the Kleptocracy initiative for conservative reflection of the Hudson Institute in Washington, DC, In a post on x “If that is correct, difficult to see how it is square – for example – strike on cartel finances or maximum pressure sanctions on Iran.”
Created in 2022 to meet the challenges posed by cryptocriminals
The National Cryptocurrency Application Team (NCET) was Created in February 2022 To take up the challenge posed by the criminal use of cryptocurrencies and digital assets.
According to its website, the team is made up of lawyers from the entire Ministry of Justice, including prosecutors with antecedents in cryptocurrency, cybercrime, money laundering and confiscation. He worked in close collaboration with components of the DoJ, as well as offices of American lawyers across the country and specialists in the Crypto-Crime of the FBI.
One of its main objectives was to pursue the criminal use of digital assets with a particular emphasis on the exchange of virtual currencies and other entities that facilitate criminal activity. It has also established strategic priorities concerning digital asset technologies and directed the DOJ efforts to coordinate with national and international partners’ application of the law, regulatory agencies and private industry to combat criminal use of digital assets.
Leave Trump’s “real regulators to do this job”
The Deputy AG said that the Ministry of Justice will no longer pursue litigation or implementation measures which have the effect of superimposing regulatory executives on digital assets “while the real regulators of President Trump do this work outside the framework of puminal criminal justice”.
Instead, Written Blanche, the Doj will concentrate its surveys and prosecution involving digital assets on individuals “who victimize digital active investors” and those who try to use crypto for danger of criminal regimes such as terrorism, narcotics and the trafficking of human beings, organized crime, hacking and financing of cartridges and gangs.
In accordance with this narrowing of its policy of applying cryptocurrencies, the unit of integrity of the doj market and the major that of fraud will also cease the application of cryptocurrencies to focus on other administration priorities, including immigration and supply fraud, said Blanche.
In addition, the IT crime and intellectual property section of the DoJ criminal division will continue to provide advice and training for the staff of the department and will serve bonds for the digital asset industry, according to the Memo de Blanche.
Making the United States the “cryptographic capital of the planet”
President Donald Trump’s executive decree on cryptocurrency on January 23 – his third day in power – sought to revive government regulations which, according to him, could help make the “cryptographic capital of the planet”.
On the campaign track, Trump has courted the main players in the cryptocurrency sphere and promised to reduce what he considered as an overview and regulation of the industry. This has earned him significant campaign contributions from digital companies and investors, many of which complained about what they said were aggressive efforts from the Biden administration to regulate the emerging market.
Trump also co-founded the Firm World Liberty Financial Financial two months before his electoral victory in November, as well as his three sons and the rich real estate businessman Steve Witkoff, who is now the Middle East of Trump.
Trump published his own crypto token
Trump also published his own crypto token just before taking up his duties, which has climbed more than $ 10 billion in market value, and enthusiasm on his cryptographic friendly administration has briefly lifted Bitcoin and other cryptocurrencies at recording levels.
Trump’s so-called “same” memecoin went from less than $ 10 on Saturday before inauguration at $ 74.59 before finally abandoning some of his earnings. The token, marked $ Trump, was criticized by ethical experts as a conflict of interest for the president, because the company could probably benefit from its pro-scriptto policies.
Since its entry into office, Trump has pushed pro-Crypto-money efforts, in particular by establishing a working group on the digital asset markets to offer new regulations on digital assets and to study the creation of a stock of national cryptocurrency.
Creation of a strategic bitcoin reserve
Last month, Trump signed an order to create a Federal Strategic Bitcoin ReserveSaying a new federal support for cryptocurrency in general and Bitcoin in particular.
Its members included the secretary of the Treasury Scott Bessent, the AI of the White House and the Tsar Crypto David Sacks, as well as “the heads of other departments and agencies concerned”, including the president of the Securities and Exchange Commission.
Consequently, cryptocurrencies like Bitcoin will probably become more common and possibly used for payment, as are credit and debit cards.
