The US Department of Justice (DOJ) has ordered to pay nearly $2.8 million (USD) to people affected by the Jeremy Spence crypto scam. Jeremy Spence, the crypto scammer who defrauded the crypto investors with more than $5 million (USD).
In May 2022, the United States Attorney for the Southern District of New York announced that Jeremy Spence was imprisoned for 42 months for defrauding more than 170 victims in connection with various cryptocurrency funds that he had operated before May 2022.
US regulators are now determined to draft certain regulations on using crypto assets to protect user rights. Kristin Johnson, the Commodity Futures Trading Commission (CFTC), advised crypto users stating, “I strongly encourage members of the public to stay informed about the potential scams and abuses in the digital assets markets by visiting our investor advisory page.”
Senator Boozman commented on DCCPA that “our bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space.”
Recent Crypto Scams
According to the Federal Trade Commission (FTC) report, more than 46,000 crypto users have lost nearly $1 billion (USD) in cryptocurrency scams. For the past few years, many cyber cases have remained unsolved.
James Zhong, who stole billions of dollars worth of bitcoin from the Silk Road marketplace, remained a mystery case for police…
