Crypto
Trump’s DOJ just gave crypto bros the keys to the digital kingdom
The administration is telling the DOJ to zero in on individual scammers, crypto-funded terrorism, drug and human trafficking, hacking, and cartel financing.
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In a move that has crypto bros celebrating and regulators facepalming, the Trump administration dropped a bombshell on the cryptocurrency world.
The Department of Justice is essentially telling its prosecutors to back off from most crypto fraud cases, because apparently, that’s exactly what the wild west of digital currency needed – even less oversight.
The TL;DR
Deputy Attorney General Todd Blanche sent out a memo that basically says the DOJ will no longer be “targeting virtual currency exchanges, mixing services, or offline wallets” for user-related shenanigans.
Translation: The crypto playground just got a lot more… interesting. You can read the full memo here or the embedded option below:
Dag Blanche Memo Ending Regulation by Prosecution 20250407 by kevin on Scribd
From “Crypto is a Scam” to “Crypto is BAE”
Remember when Trump called Bitcoin “highly volatile and based on thin air”? Well, times change, and apparently so do opinions when there’s campaign money on the line.
Our former and current president has done a complete 180, transforming from crypto skeptic to crypto’s biggest fanboy. The evidence? Trump’s been busy:
- Headlined the 2024 Bitcoin Conference in Nashville (because nothing says “legitimate currency” like a MAGA rally)
- Launched his own crypto platform
- Scored major donations from crypto whales who totally don’t expect anything in return (wink wink)
The New Rules of the Game
According to the memo, instead of watching exchanges, the DOJ will focus on:
- Individual scammers (you know, the ones without powerful lawyers)
- Crypto-funded terrorism
- Drug trafficking
- Human trafficking
- Hacking
- Cartel financing
Because apparently, those are the only problems worth worrying about in crypto-land. Everything else? (chef’s kiss) Perfectly fine!
Follow the Money
This wouldn’t be a proper crypto story without following the money trail.
Robinhood CEO Vlad Tenev casually dropped $2 million on Trump’s inauguration, and what do you know – Robinhood’s SEC investigation magically disappeared.
Coinbase also got a get-out-of-jail-free card with their SEC lawsuit suddenly ending. Coincidence? In crypto we trust!
What This Means For You
If you’re a regular crypto investor, this basically means the already-minimal protection you had just got even more minimal. But hey, at least the markets should pump, right? Welcome to the new normal, where regulation is so 2023.
Remember folks: Not financial advice, but maybe keep your crypto in a hardware wallet and triple-check those smart contracts. Because in this brave new world of crypto freedom, you’re more on your own than ever.
How do you feel about the DOJ easing up on crypto oversight? Excited or worried? Let us know in the comments, or join the discussion on our Facebook and Twitter!
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