The Department of Justice ended its National Cryptocurrency Enforcement Team, while also redirecting focus away from targeting crypto fraud.

The administration announced this move, like it did at the SEC, as part of its overall push to return enforcement to investigations and cases that harm retail investors,” said Scott Armstrong, a principal at McGovern Weems and a former federal prosecutor who served as senior leadership in cases involving cryptocurrencies.

The U.S. Department of Justice has disbanded its National Cryptocurrency Enforcement Team, retrenching its approach to crypto.

Bitcoin dropped below the closely watched $80,000 level on Sunday evening, tracking U.S. stock index futures sharply lower amid intensifying worries about the impact of tariffs. Monitor these key chart levels.

Cryptocurrency prices rebounded Tuesday, in line with a brighter mood in stock markets. Bitcoin recently stood at close to $80,000, after yesterday hitting its lowest levels since just after President Trump's election.

Cryptocurrencies have largely moved in line with equities during the market upheaval since Trump’s “Liberation Day.”