New Trump's Unit to Help Fight Crypto Fraud

'Task Force on Market Integrity and Consumer Fraud' must solve a number of problems related to fraud prevention
12 July 2018   877

President of the United States Donald Trump signed an order, according to which a working group will be created, which, among other things, will develop a guide for the investigation of crimes in the field of digital currencies. This is reported by CoinDesk.

New unit is called the 'Task Force on Market Integrity and Consumer Fraud'. According to the presidential order, published on the website of the White House, task force must solve a number of problems related to fraud prevention. The cryptocurrency industry is mentioned in the document in the context of "digital currency fraud", which is one of the priority issues on which the working group "provide guidance for the investigation and prosecution of cases involving fraud".

In what form the leadership will be issued, it is not clear, but it can be assumed that the working group will draw up a report for the presidential administration.

A lot of these schemes involve bitcoin and other cryptocurrencies which do not flow through the traditional financial system. What we're working on now with our cybercrime task force is a working on a comprehensive strategy to deal with that.
 

Rod Rosenstein

Deputy Attorney General, USA

At the same time, Trump's new initiative does not cause surprise. This year, US authorities announced that they are working on a "comprehensive" strategy for crypto-currencies aimed at addressing the problem of fraud in this industry. In February, the Ministry of Justice formed a working group on cybersecurity, which also deals with crypto-currencies.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   83

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.
 

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.