Jason Gottlieb and Christina Gotsis Publish Article on Shift in Trump Administration’s Crypto Policies in International Enforcement Law Reporter
Partner Jason Gottlieb, chair of Morrison Cohen’s Digital Assets and White Collar and Regulatory Enforcement practices, and Associate Christina Gotsis authored an article in International Enforcement Law Reporter entitled “Crypto Enforcement Overhaul: Shift from Policing Platforms to Investor Protection,” in which they examine a major shift in the Department of Justice’s digital asset enforcement priorities.
On April 7, 2025, Deputy Attorney General Todd Blanche issued a Memorandum emphasizing that the DOJ is not a regulator, marking a departure from the prior administration’s “regulation by prosecution.” The DOJ will now focus on “conduct victimizing investors” in the digital asset sector, such as fraud, embezzlement, scams and hacking, rather than pursuing platforms for users’ actions or technical violations.
Enforcement priorities will shift toward the use of digital assets in concealing illicit activity and financing terrorism or organized crime, consistent with Trump’s “total elimination policy.” The Memorandum aligns with Executive Order 14178, which promotes the “responsible growth” of digital assets and supports technology-neutral regulations to foster a “vibrant and inclusive digital economy.”
In tandem, the Securities and Exchange Commission has initiated efforts to engage with stakeholders in the digital asset industry, and the newly appointed SEC Chair Paul Atkins has emphasized that “market participants engaging in this technology deserve clear regulatory rules of the road.” The impact of the Trump administration’s stance on digital assets has been immediate, with the SEC closing investigations into major platforms like Gemini, Coinbase, OpenSea, Robinhood and Uniswap.
While some view this regulatory shift as a catalyst for innovation, others warn it could enable illicit activity. The authors caution that “without a unified legal framework, digital asset regulation remains a patchwork of outdated statutes and overlapping agency mandates.” They argue that long-term regulatory clarity, “may ultimately require Congressional action to establish a specific statutory regime tailored to digital assets.”
International Enforcement Law Reporter subscribers may read the full article here.
Contacts
- Jason P. Gottlieb Partner & Chair, Digital Assets; Chair, White Collar and Regulatory Enforcement
- jgottlieb@morrisoncohen.com
- Christina O. Gotsis Associate
- cgotsis@morrisoncohen.com
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