The U.S. Justice Department abruptly shut down its National Cryptocurrency Enforcement Team, signaling a major shift in how the federal government will handle crypto-related crimes going forward, according to a memo sent Monday night by Deputy Attorney General Todd Blanche.

In it, Blanche outlines a decentralized approach in which U.S. attorney's offices will now take the lead on digital asset cases, focusing primarily on crimes involving terrorism.

Going forward, the document said efforts would now focus on "prosecuting individuals who victimize digital asset investors, or those who use digital assets in furtherance of criminal offenses such as terrorism, narcotics and human trafficking, organized crime, hacking, and cartel and gang financing."

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