Under Biden, US Treasury Department softens stance on cryptocurrency regulations

US Justice Department Ends Cryptocurrency Investigations Under Trump

Washington DC, April 8, 2025 - The US Justice Department has announced that it is ending a series of investigations into the cryptocurrency industry, which were launched during the Trump administration.

The investigations, which were initiated in 2017, were aimed at examining potential fraud and money laundering schemes involving cryptocurrency exchanges, wallets, and other financial institutions. The probe was led by the Justice Department's Fraud Section and was assisted by the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN).

The decision to end the investigations comes after a review of the evidence gathered during the probe, which found no evidence of widespread fraud or money laundering. The Justice Department said that it had determined that the majority of the cryptocurrency transactions examined during the investigation were legitimate and did not violate any laws.

The announcement was welcomed by the cryptocurrency industry, which had been concerned about the potential impact of the investigations on the sector. "This is a great day for the cryptocurrency industry," said a spokesperson for the Blockchain Association, a trade group that represents cryptocurrency companies. "The Justice Department's decision to end the investigations is a recognition that the vast majority of cryptocurrency transactions are legitimate and do not pose a risk to the financial system."

The investigations had been criticized by some in the cryptocurrency industry, who argued that they were overly broad and could have a chilling effect on innovation and investment in the sector. The Justice Department's decision to end the investigations is seen as a victory for the industry and a recognition that the sector is not a priority target for law enforcement.

The announcement also comes as the financial regulatory landscape is evolving, with the introduction of new cryptocurrency-related regulations and the increasing recognition of the sector's potential to drive economic growth and innovation. The Justice Department's decision to end the investigations is seen as a positive development for the industry and a recognition of its legitimacy as a financial sector.