Deciphering the DOJ’s Latest Guidance on Cryptocurrency Enforcement
The U.S. Department of Justice (DOJ) recently issued a critical memo outlining its approach to cryptocurrency enforcement, signaling heightened regulatory scrutiny. This document provides prosecutors with a framework for investigating crypto-related crimes, including fraud, market manipulation, and sanctions evasion. Legal experts suggest the memo could lead to more aggressive enforcement actions against non-compliant exchanges and DeFi platforms. The guidance also emphasizes interagency coordination, involving the SEC and CFTC, to address jurisdictional complexities in digital asset cases. Analysts warn that the DOJ’s stance may accelerate compliance demands on industry participants, potentially reshaping operational standards across the crypto ecosystem.
Monday
- The Securities and Exchange Commission and Binance were set to file a joint status report on their discussions after a judge paused the regulator’s case against the exchange and its affiliated entities and executives in February. Last Friday, the parties asked for an extension of this deadline, and the judge overseeing the case signed off on Monday, giving the parties until mid-June to file a follow-up.
- (The Wall Street Journal) Binance executives met with U.S. Treasury Department officials in March about potentially "loosening U.S. government oversight" of the exchange following Binance’s November 2023 guilty plea, the Journal reported. Binance agreed to a court-appointed monitor as part of the plea. At the same time as last month’s discussions, Binance was in talks with the Trump-backed World Liberty Financial to develop a dollar-pegged stablecoin.
- (Fortune) Fortune spoke to and profiled Bo Hines, the executive director of U.S. President Donald Trump’s digital assets advisory council.
- (CNBC) U.S. importers are seeing more "canceled sailings" due to a drop in demand as a result of tariffs, CNBC reports.
- (The Verge) ICERAID claims to be a protocol on Solana where people can crowdsource images of "criminal illegal alien activity" in exchange for tokens, but it does not appear to have any connection to Immigration and Customs Enforcement (ICE), The Verge reports.
- (NPR) The Department of Homeland Security is revoking parole for a number of migrants, telling them to self-deport from the U.S. U.S. citizens, born within the U.S., are also receiving these emails.
- (The New York Times) Acting IRS Commissioner Gary Shapley has been replaced after just three days on the job, after Treasury Secretary Scott Bessent reportedly complained to President Donald Trump that he was not consulted on Shapley’s promotion, which was pushed by Elon Musk.
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