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Prominent U.S. Attorney’s Office to Reduce Focus on Crypto Cases, Top Official Says: Report

Umito November 17, 2024

A major U.S. attorney’s office reportedly plans to focus less on crypto cases with Donald Trump’s return to the White House.

Thursday, Trump announcement on Truth Social that he planned to appoint Jay Clayton as U.S. Attorney for the Southern District of New York.

Clayton led the Securities and Exchange Commission (SEC) during Trump’s previous term and made crypto-friendly comments recently.

Scott Hartman, co-leader of the Southern District Securities and Commodities Fraud Task Force, said at a conference this week that the bureau would not ignore crypto but there would be not as many prosecutors focused on the sector either, Reuters reports.

“We brought a lot of significant cases as a result of the crypto winter – there were a lot of significant fraud cases to bring – but we know our regulatory partners are very active in this area.”

Damian Williams, the U.S. Attorney for the Southern District, has prosecuted numerous crypto cases in recent years, including Sam Bankman-Fried and FTX.

After expressing skepticism towards Bitcoin (BTC) and crypto during his previous presidential term, Trump spent the last year on the campaign trail promising to protect and grow the digital assets sector.

At campaign events in recent months, he promised to fire current SEC Chairman Gary Gensler on his first day in office and end policies that prevent investors and crypto companies from using digital assets.

He also said the United States would stop selling its seized Bitcoin hoard on the open market and instead hold the asset strategically as an investment.

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