New York to reduce crackdown on crypto crime [Video]

In recent years, the United States Attorney’s Office for the Southern District of New York (SDNY) has been one of the toughest in the country on digital asset crime. However, as Donald Trump takes power after his election victory, the office will allocate fewer resources to the sector to focus on higher priority areas, one senior prosecutor has revealed.

Scott Hartman, co-chair of SDNY’s Securities and Commodities Fraud Task Force, admitted that the office would reduce its focus on ‘crypto’ crime after five years of intense crackdowns.

“We brought a lot of big cases in the wake of the crypto winter – there were a lot of important fraud cases to bring there. But we know our regulatory partners are very active in this space, and we don’t have a lot of people,” stated Hartman in his presentation at the Practicing Law Institute’s 56th Annual Institute on Securities Regulation.

One of the SDNY’s landmark actions was against Sam Bankman-Fried, …