U.S. Justice Department Shifts Focus from Cryptocurrency to Cartels and Terrorism

The U.S. Justice Department is refocusing its priorities, disbanding its National Cryptocurrency Enforcement Team to concentrate on criminal investigations involving the use of digital currency by cartels and terrorist organizations, as revealed in a memo obtained by Reuters.

The U.S. Justice Department is making a strategic pivot by dissolving its National Cryptocurrency Enforcement Team. This move signifies a shift in priorities as the department redirects its resources towards tackling criminal activities involving cartels and terrorist organizations.

According to an internal memo obtained by Reuters, the focus will now be on pursuing investigations where digital currency is used to finance illicit operations by these groups. This adjustment aims to address the evolving nature of financial crimes and the increasing sophistication of criminal networks utilizing digital assets.

The decision underscores a growing concern about the intersection of cryptocurrency and global criminal activities, prompting a reallocation of investigative efforts.

(With inputs from agencies.)