During his campaign, President-elect Donald Trump promised to ease up on enforcing crypto regulations. This is expected to happen as Trump resets policy at the Justice Department and regulatory agencies. Crypto fraud cases will not be given a free pass, but they will no longer be a priority. Government agencies and departments will likely shift their focus to areas such as immigration law enforcement.
Scott Hartman, co-chief of the securities and commodities task force at the U.S. Attorney’s Office in Manhattan, said that the office will dedicate fewer resources to crypto-related crimes, meaning fewer prosecutors will be working on these cases. This is not surprising considering that the ‘crypto winter’ saw fewer resources dedicated to such cases.
The Securities and Commodities Task Force currently has 16 prosecutors, with some fearing that this number may be reduced further. Steve Pelkin, a partner at law firm Sullivan & Cromwell, believes there will be a reallocation of resources to immigration enforcement, as Trump promised during his campaign.
Additionally, the Commodity Futures Trading Commission (CFTC) may follow suit and prioritize other areas.
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