Crypto Crime Is a Focus of Trump's New Task Force on Consumer Fraud
It looks like President Trump is forming a new task force to "protect" consumers from crypto frauds. Washington is concerned with money laundering and schemes performed against the elderly via digital currencies. The Justice Dept, SEC, Consumer Financial Protection Bureau and the Commodity Futures Trading Commission are joining forces to help fight against scammers. The new Task Force will be led by the Justice Department. It cited “cyber fraud” and “digital currency fraud” as targets of the group’s work.
The Obama Administration did something similar during the 2008 Financial Crisis. In Trump's Executive Order, he is recommending ways to improve cooperation among various organizations. Some are saying that this is a classic government intervention and overreach of their powers. When it comes to regulations, it is a game of inches. Once the government gets their foot in the door, it is very easy for them to create a regulatory nightmare. However, there is the other side of the coin saying that some regulation is needed. What are your guys thoughts? Is this "good" regulation to protect customers or is big government starting to realize that cryptos may create a problem in their monopoly and control of the monetary system? Please comment.
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well it has to happen one day or later digital threats are increasing day by day
As in everything there are always criminals, we hope that justice systems continue to grow.