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The US Is Turning a Blind Eye to Crypto Crimes
Under the Trump administration, federal authorities are declining to charge crypto firms with a range of offenses, raising questions about which rules apply—and who will enforce them.
“The rollbacks send the message that they are really not going to prosecute people for crypto-related crimes or regulatory violations unless it involves something severe,” claims Christopher LaVigne, a former US prosecutor and partner at law firm Withers. Elsewhere, the SEC has distanced itself from oversight of memecoins, a class of crypto coin that typically has no strict purpose but to act as a vehicle for financial speculation, which are frequently abused to squeeze money from unwitting investors. A month after Chinese entrepreneur Justin Sun announced he had invested $75 million in World Liberty Financial, a crypto project with ties to the Trump family, the SEC petitioned a federal judge to pause its ongoing fraud case against him and several of his companies.
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