Blanche's Balancing Act: New AG Faces Crypto Policy Conundrum

Todd Blanche's appointment as Acting Attorney General has significant implications for the crypto industry. As a former federal prosecutor, he brought pro-industry reforms to the Department of Justice last year, including dissolving the office's crypto-dedicated enforcement team and instructing prosecutors to back off from targeting exchanges and mixing services.

However, his actions have been inconsistent. In 2020, Blanche disbanded the enforcement team and instructed prosecutors to stop charging developers with operating an unlicensed money transmitter. Yet, in fall 2021, the Trump DOJ sent two Bitcoin privacy software developers to prison for the same offense.