Trump sets up New “Task Force on Market Integrity and Consumer Fraud”
The President of the United States of Ameriac Donald Trump has set up a new “Task Force on Market Integrity and Consumer Fraud” to assist regulating authorities to investigate financial fraud crimes in the U.S. This can be counted as Trump’s first straight step vs digital currency scams.
Pursuant to a Presidential Executive Order, the Task Force will help the Department of Justice (DoJ) and Federal, State, local, and tribal agencies. It will assist in the investigations and prosecution of people related to several financial crimes, such as cryptocurrency scam and money laundering.
The task force will as well restore the incomes of such crimes and provide efficient punishment to people who are involved in any scam concerning cryptocurrencies. The Task Force participants will be composed of Attorney’s, officers or employees from different departments of the DoJ as well as the Director of the Federal Bureau of Investigation (FBI).
The Attorney General will set up the Task Force and the Deputy Attorney General shall gather and send the work of the Task Force in satisfying its features under this order.
In April 2018, one of the largest coordinated crackdowns dubbed “Operation Cryptosweep” on fraudulent Initial Coin Offerings (ICOs) started being conducted by Task Force established from member state and provincial securities regulators in the U.S. and Canada.