Trump Task Force to Aid Crypto Crime Investigations

President Trump has signed an executive order establishing a new task force that targets consumer fraud, including those involving "digital currency."

AccessTimeIconJul 11, 2018 at 9:35 p.m. UTC
Updated Dec 12, 2022 at 1:56 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

U.S. President Donald 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 orderhttps://www.whitehouse.gov/presidential-actions/executive-order-regarding-establishment-task-force-market-integrity-consumer-fraud/, casts a wide net in its focus on consumer fraud. Yet notable for the crypto industry is its mention of "digital currency fraud," which is one of a number of areas in which the task force will "provide guidance for the investigation and prosecution of cases involving fraud."

It's not clear in what form the guidance will take, but the task force may ultimately produce some kind of report for the Trump administration on this front.

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."

President Trump image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.