The U.S. Attorney's Office in Manhattan is reportedly shifting its approach to enforcing cryptocurrency crimes and allocating “fewer resources” to the field following a series of serious convictions, including: FTX Founder Sam Bankman Freed.
Southern District of New York to reduce cryptocurrency prosecutions
Scott Hartman, co-chief of the Southern District of New York (SDNY) Securities and Commodities Task Force, said: announced this He spoke at a conference hosted by the Practical Law Institute in New York.
Hartman said his office will continue to work on crypto cases, but noted that the number of prosecutors specializing in these matters has declined since the 2022 digital asset price crash.
Prosecutors emphasized that the SDNY will not completely abandon cryptocurrency-related matters. prosecution However, it has been shown that the number of cases will decrease significantly in the future. “In the future, at least we won't see as many cryptocurrencies coming out of SDNY,” he said.
Former SEC Chairman Clayton becomes U.S. Attorney
The decision comes shortly after President-elect Donald Trump appointed former Securities and Exchange Commission (SEC) Chairman Jay Clayton as the new U.S. attorney for the Southern District of New York.
Clayton held the position from 2017, during President Trump's first term, to 2021, and was known for pursuing several crypto-related cases, but has been more active in regulating the industry. His stance was not as fierce as that of current SEC Chairman Gary Gensler.
At the time, Mr. Trump's views on the industry also differed greatly from those he expressed during his current presidential campaign leading up to the Nov. 5 election.
Previously, Trump expressed Skepticism has targeted digital assets, particularly Bitcoin (BTC), calling it a “scam” and criticizing it as “highly volatile and thin air.”
The president-elect has promised to introduce significant changes to the country's approach to cryptocurrencies. He promised to end the current “crypto wars” and proposed the following initiatives: Bitcoin as a strategic reserve asset The United States will reduce the national debt by $36 trillion.
Nevertheless, Scott Hartman acknowledged that the SDNY was actively pursuing significant fraud cases during the 2021 crypto winter. But he emphasized something else regulatory authorityAgencies such as the SEC and the Commodity Futures Trading Commission (CFTC) oversee the sector.
President Trump has hinted at a possible change in SEC leadership and indicated his intention to fire the agency's commissioners. Gary Genslerthe first day of the new administration starting on January 20th.
Overall, there is growing optimism among investors about the digital asset ecosystem as the incoming administration promises a new regulatory framework that is poised to act as a catalyst for further adoption and growth of digital assets. Masu.
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