Trump’s New Task Force On Consumer Fraud Is Focusing On Crypto Crime

U.S. President Donald Trump signed an executive order Wednesday creating a new task force to protect consumers from fraud. They will focus in part on cryptocurrency fraud investigations.

Washington’s concern over digital currencies now ranges from traditional crimes like money laundering and investment schemes to virtual tokens. 

According to Bloomberg, agencies across the U.S. have all been adapting to the investigation of the hot crypto market.

“The Justice Department, the Securities and Exchange Commission and the Commodity Futures Trading Commission are increasingly focusing their resources on scams tied to Bitcoin and other tokens, and government officials have frequently warned investors about potential dangers.”

According to the executive order, the new task force is led by the Justice Department and includes the SEC, the Federal Trade Commission, and the Consumer Financial Protection Bureau.

The comprehensive strategy against crypto fraud continues to develop. In February, the U.S. Department of Justice formed a cybersecurity task force which will focus on cryptocurrencies, combating global cyber threat, and how federal law enforcement can more effectively accomplish its mission.

Photo by David Everett Strickler on Unsplash