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SDNY to Reduce Crypto Prosecutions Post-Bankman-Fried Conviction

Nov 15, 2024, 05:28 PM

The U.S. Attorney's Office for the Southern District of New York (SDNY), under the leadership of Jay Clayton, is set to reduce its focus on cryptocurrency-related prosecutions. This decision follows several major convictions, including that of FTX founder Sam Bankman-Fried. Scott Hartman, a senior prosecutor, stated that the office will devote fewer resources to policing cryptocurrency crimes, signaling a shift in priorities. The announcement came after Donald Trump's new U.S. Attorney took over, suggesting a potential change in enforcement strategy.