The F.O.R.C.E.

Crypto Crossroads: The DOJ's New Direction

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Podcast Crypto Crossroads: The DOJ's New Direction

 

In this episode of FIBA on Risk and Compliance Excellence (The F.O.R.C.E.), we explore the U.S. Department of Justice’s surprising pivot in cryptocurrency enforcement—and what it means for financial institutions, digital asset companies, and regulators.

Hosted by David Schwartz, President and CEO of FIBA, this episode features Richard Weber, Partner at Winston & Strawn LLP and former Chief of IRS Criminal Investigation, as they unpack the DOJ’s decision to disband its National Cryptocurrency Enforcement Team and narrow its focus to criminal abuse of digital assets.

Key Topics Include:

  • What the DOJ’s memo really says—and why its language has left even legal experts unsure
  • Why prosecutions tied to fraud, terrorism financing, and organized crime remain active
  • The enduring risk for institutions despite “less enforcement” messaging
  • How state regulators are stepping up as federal agencies scale back
  • Why companies must prioritize compliance regardless of shifting political winds
  • The vital role of public-private partnerships in reducing regulatory confusion

    • Podcast Recap:

    • DOJ will no longer pursue enforcement that mimics regulation, but fraud and criminal misuse of crypto remain key targets
    • The disbanding of the DOJ crypto task force may signal deprioritization—but not decriminalization
    • State regulators like NY DFS and CA AG continue active enforcement
    • Financial institutions must maintain strong AML/BSA frameworks, as risks persist even if crypto isn’t named
    • Reducing compliance based on temporary policy shifts exposes firms to long-term legal and reputational risk
    • Open dialogue between regulators, law enforcement, and the private sector is critical to address ongoing uncertainty in digital asset oversight

      • 🎧 Thank you for joining us!


      Stay tuned for more insights in upcoming episodes.

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      The F.O.R.C.E.By FIBA Bankers