The Justice Department is disbanding a team of prosecutors who targeted cryptocurrency crimes and is shifting its focus away from complex crypto-related cases involving banking and securities law, according to a memo reviewed by The Associated Press. “The Department of Justice is not a digital assets regulator,” Deputy Attorney General Todd Blanche said in a memo sent to prosecutors Monday. It’s the latest move by the Trump administration to try to boost the cryptocurrency industry while undoing the Biden administration’s efforts to crack down on wrongdoers in the industry.
Ever since it launched in 2009, Bitcoin (CRYPTO: BTC) has stood alone as the world's most valuable cryptocurrency. The one competitor that's been getting a lot of buzz recently is XRP (CRYPTO: XRP), the cryptocurrency formerly known as Ripple. In terms of market cap, it seems inconceivable that XRP could ever overtake Bitcoin.