Crypto crime on consumer panel agenda

In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins.

The inclusion of virtual tokens — along with traditional crimes like money laundering and investment schemes targeting the elderly — as a focus of a panel announced Wednesday is the latest sign of Washington’s concern over digital currencies.

The Justice Department, the Securities and Exchange Commission and the Commodity Futures Trading Commission are increasingly focusing their resources on scams tied to bitcoin and other tokens, and government officials have frequently warned investors about potential dangers.

The new task force is led by the Justice Department and consists of agencies including the SEC, the Federal Trade Commission and the Consumer Financial Protection Bureau, according to an executive order signed by President Donald Trump. It cited “cyber fraud” and “digital currency fraud” as targets of the group’s work.