New York Times: The US SEC reduces its law enforcement in the field of cryptocurrencies

Panews News on February 5th, according to the New York Times, five insiders revealed that the US Securities and Exchange Commission is shrinking a special group composed of more than 50 lawyers and staff. The group has been responsible for cryptocurrency law enforcement operations. This is one of the first specific measures taken by President Trump and its government to reduce cryptocurrencies and other digital asset supervision. One of Trump's first administrative orders aims to promote the development of cryptocurrencies and "eliminate excessive supervision of digital assets."

People familiar with the matter said that some lawyers in the cryptocurrency group are being assigned to other departments of the US Securities and Exchange Commission. A senior lawyer in the group was transferred away from the law enforcement department. Some people who understand the changes say that this transfer is an unfair duty.

The current SEC Agent Chairman Mark T. Uyeda has conducted a series of appointments while adjusting other senior positions of the SEC. The committee hired more than 1,000 lawyers. One of the first things after Uyeda took office was to set up a group to review the method of processing digital assets for SEC. The working group is led by SEC members and blunt cryptocurrency supporters Hester Peirce.