Scott Hartman reportedly said authorities in New York’s Southern District had filed “a lot of big cases” after a crypto market downturn but suggested it was petering out.
A prosecutor with the United States Attorney’s Office for the Southern District of New York (SDNY) has suggested that authorities were devoting fewer resources to bringing cases involving cryptocurrency-related crimes.
Speaking at the Practicing Law Institute’s 56th Annual Institute on Securities Regulation on Nov. 15, Scott Hartman reportedly said there would not be “as much crypto stuff coming out of at least the SDNY in the future.” Hartman, the co-chief of the Securities and Commodities Fraud Task Force at SDNY, hinted that many of its criminal cases against high-profile executives like former FTX CEO Sam Bankman-Fried were filed in response to the crypto market downturn of 2022.
“We brought a lot of big cases in the wake of the crypto winter,” said Hartman. “There were a lot of important fraud cases to bring there, but we know our regulatory partners are very active in this space.”
