Published On: Fri, Apr 13th, 2018

SEC Getting Ready for a Massive Crypto Fraud Battle

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The Securities and Exchange Commission (SEC) has come out guns blazing in the fight to combat ICO fraud and protect small investors.
As we know, cryptocurrencies stole the headlines in 2017, with Bitcoin’s biggest milestones, such as reaching an all-time high value of $20k, a definite topic of conversation around the investor dinner table.
Potential investors could trade in existing cryptocurrencies, or be a part of a brand-new virtual currency by investing in a start-up’s ICO. This in itself is a billion-dollar industry and is continuing to grow.
SEC is Ready for Action
However, the fact that these ICOs are decentralized and not answerable to any authority means that there is a potential for fraud. According to Fox Business, this is an issue that the Securities and Exchange Commission (SEC) is actively combating. In fact, the regulator’s most recent move could affect dozens of crypto-related platforms, most notably, ICOs.
Even though the SEC, under Chairman Jay Clayton, has only taken action in nine cases of crypto fraud so far, sources privy to SEC correspondence have stated that the commission is actively working on dozens more. If this is true, 2018 could be a big year …

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