Crypto industry insiders react to DOJ’s crackdown on potential fraud

May 24, 2023

The crypto industry is assessing what to make of a potential crackdown by the U.S. Justice Department on crime on digital platforms. The Justice Department, for example, arrested digital exchange Bitzlato’s founder in January after he allegedly transmitted around $700 million in illicit crypto funds. While crypto industry insiders welcome the crackdown on crime, some question the potential impact on crypto innovation. In March, the SEC also came down on stars like Lindsay Lohan and Jake Paul for allegedly illegally touting crypto securities. The greater enforcement around crypto crimes in the U.S. came after the collapse of FTX in November.

The source of this news is from TaxBit