The United States Department of Justice (DOJ) is reportedly disbanding the National Cryptocurrency Enforcement Team (NCET).

NCET’s disbandment was noted in a four-page memo by United States Deputy General Todd Blanche, according to a Fortune journalist who claims to have seen the document in an April 8 report. The official is quoted saying in the note:

“The Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution.”

Blanche is the second-highest-ranking official in the DOJ and served as US President Donald Trump’s defense attorney in high-profile cases, including the New York hush money case and federal cases…