An important task change has been made in the US Department of Justice. President Donald Trump removed Pam Bondi, who was serving as attorney general, from this position and appointed Todd Blanche to head the Department of Justice. Todd Blanche, a well-known name in the legal world, also defended Trump in his criminal case in New York. Following his re-election to office, Trump appointed Blanche as deputy attorney general.
New policy changes regarding cryptocurrency
Immediately after Todd Blanche took office as deputy attorney general, remarkable decisions in the field of cryptocurrency began to be implemented. Blanche ordered the dissolution of the National Cryptocurrency Implementation Team, which was previously established during the Joe Biden period and has been operating since 2022. Another step that resonated with the industry was a comprehensive memorandum signed by Blanche ordering prosecutors not to pursue cases of regulatory violations in the cryptocurrency industry.
In the four-page circular prepared within the ministry, prosecutors were asked to stay away from cases related to the investigation of regulatory violations in the cryptocurrency market. The potential effects of this policy change on cryptocurrency companies have led to close monitoring of the industry.
These new decisions made by Blanche caused positive and negative evaluations in crypto economy circles. Comments have begun to be made that the state’s perspective on practices related to the crypto sector may change.
Effects reflected in the Tornado Cash case and ethical debates
Another issue that resonated widely with the public was the use of the circular signed by Blanche as a reference in the trial of Tornado Cash developer Roman Storm, carried out by the Southern District of New York prosecutor’s office. The prosecution withdrew a charge against Storm based on this document. However, Storm was convicted on a different charge and will face a new trial later in the year.
Another detail that caused Blanche’s cryptocurrency decisions to create controversy in terms of ethical rules is that, despite her promises to dispose of her cryptocurrencies during the inauguration phase, it was revealed that she still had a significant amount of crypto assets when she signed the relevant circular.
In the documents prepared by ProPublica, it was stated that Blanche had cryptocurrencies worth between $159 thousand and $485 thousand. This situation led to criticism regarding ethical rules and conflict of interest.
Blanche’s appointments and the subsequent steps she took caused new discussions in Washington about the relations between government institutions and the cryptocurrency market. It is being watched with curiosity what kind of consequences these developments will have in the sector in the future.
