The US Attorney’s Office for the Southern District of New York (SDNY) will scale back its crypto prosecutions. However, the office will finish a few prominent cases like Sam Bankman-Fried’s appeal.

Although the office won’t ignore crypto cases, it would reduce the resources and the number of lawyers working on these prosecutions.

A New Attorney for the SDNY

Donald Trump announced crypto ally Jay Clayton as the next US Attorney for the SDNY, thus explaining this détente.

According to a report from Reuters, the US Attorney’s office in Manhattan has seen a significant number of lawyers being directed to crypto cases since 2022. The fallout from the crypto winter saw many high-profile cases being tried in this District Court.

“You won’t see as much crypto stuff coming out of at least the SDNY in the future. We brought a lot of big cases in the wake of the crypto winter – there were a lot of important fraud cases to bring there – but we know our regulatory partners are very active in this space,” Scott Hartman, co-chief of securities and commodities task force at the SDNY announced in a New York conference.

This cool-down approach aligns with Donald Trump’s stated plan to quiet government anti-crypto efforts. Just yesterday, Trump announced his preferred candidate for SDNY US Attorney: Jay Clayton, former SEC Chief. Since leaving the SEC in 2020, Clayton has made increasing pro-crypto stances, showing a Go to Source to See Full Article
Author: Landon Manning