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Crypto Crime Is a Focus of Trump's New Task Force on Consumer Fraud

Crypto Crime Is a Focus of Trump's New Task Force on Consumer Fraud (Govt., Critical Infrastructure)

In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins. The new task force is led by the Justice Department and consists of agencies including the SEC, the Federal Trade Commission and the Consumer Financial Protection Bureau, according to an executive order signed by President Donald Trump. While the Obama administration formed a similar task force in the wake of the 2008 financial crisis, Trump’s decision to create his own version allows his administration to direct its focus. In his executive order, Trump tasked the group with providing guidance for investigations and with recommending how to improve cooperation among various government agencies. "Fraud committed by companies and their employees has a devastating impact on American citizens in the financial markets, the health care sector, and elsewhere," Deputy Attorney General Rod Rosenstein said at a press briefing in Washington.

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