On Day 4 of Anti-Crypto Corruption Week, Ranking Member Maxine Waters and Committee Democrats are exposing how Donald Trump has sidelined crypto criminal watchdogs—so no one would be watching him. He stripped away the oversight mechanisms meant to keep crypto corruption in check, clearing the way for him and his allies to profit off their crypto cons in the shadows, unchecked.

One of Trump’s first moves in office: disbanding the Justice Department’s National Cryptocurrency Enforcement Team, the unit tasked with prosecuting crypto crime.

According to internal memos obtained by The Hill, Trump’s DOJ ordered prosecutors to shift attention away from crypto and toward politically convenient targets like immigration and procurement fraud.

The directive was part of an executive order to dismantle digital finance enforcement structures across the federal government, replacing meaningful oversight with vague “jurisdictional boundaries.”

Trump’s SEC also swept crypto fraud under the rug. Trump’s allies at the Securities and Exchange Commission followed suit: they dropped dozens of major enforcement actions launched during the Biden Administration. In the first month alone, the Trump Administration dropped cases or investigations against at least 89 companies.

According to Decrypt, this includes actions investigating some of the crypto industry’s biggest names:

• Binance: lawsuit alleging unregistered securities offerings
  
• Coinbase: investigation into crypto token listings and staking services
  
• Kraken: lawsuit related to staking-as-a-service products
  
• Ripple: long-running lawsuit over XRP’s regulatory status
  
• Robinhood: investigation into its crypto trading business
  

All were dismissed. These were not minor cases; they involved billions in alleged fraud and violations.

These dramatic reversals signal a new era: under Trump, the SEC will no longer pursue aggressive enforcement, even for serious violations like unregistered securities sales and fraudulent offerings.

Find Decrypt’s full list of cases dropped HERE.

The result of dismantling crypto oversight and ignoring fraud: a playground for scams. With both the DOJ and SEC out of the way, Trump’s message is clear: as long as you're part of his inner crime circle, you won’t face consequences. This regulatory void is no accident. It’s a deliberate invitation for corruption. And Trump has wasted no time taking full advantage.

To stop Trump from covering up his crypto crimes, Members of Congress must vote “NO” on the so-called “CLARITY” and “GENIUS” Acts which give Trump a greenlight to continue this scam. Congress should also pass Ranking Member Waters’ “Stop TRUMP in Crypto Act of 2025.”

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