An executive order has been signed by US President Donald Trump. Trump signed an executive order Wednesday creating a task force that will focus in part on developing guidance for cryptocurrency fraud investigations.
The “Task Force on Market Integrity and Consumer Fraud,” according to the executive order, will focus it’s attention on crypto frauds. The force will “provide guidance for the investigation and prosecution of cases involving fraud.”
The Task force may ultimately produce some kind of report for the Trump administration on this front. The report may include crypto frauds and cases of prosecution.
Yet it’s not surprising that the administration would move in this direction. Earlier this year, the U.S. government indicated that it was
working toward a “comprehensive” strategy around cryptocurrencies, with a focus on market fraud. In February, the U.S. Department of Justice formed a cybersecurity task force that includes cryptocurrencies as part of its mandate.
“A lot of these schemes involve bitcoin and other cryptocurrencies which do not flow through the traditional financial system,” Deputy Attorney General Rod Rosenstein said at the time. “What we’re working on now with our cybercrime task force is a working on a comprehensive strategy to deal with that.”