Mark Mason
Well-known member
Operation Crypto-Sweep to Investigate Cryptocurrency Investments
More than 40 U.S. states and Canadian provinces comprise the North American Securities Administrators Association in charge of the recently launched investigation of “fraudulent Initial Coin Offerings (ICOs)” and other “cryptocurrency-related investment products”.
So far, the plan has purportedly started 70 investigations. President of the NASAA, Joe Borg, said that “the persistent exploitation of the crypto ecosystem by fraudsters is a significant threat to Main Street investors in the United States and Canada”. He also related the current investigation to the 1990s initiative to fight fraud in the internet stock sector during the dot-com bubble.
Joseph Rotunda, the director of enforcement at the Texas State Securities Board said that “the market for cryptocurrency investments is saturated with fraud, and our work is only revealing the tip of the iceberg”. His agency previously issued a warning letter to U.K.- based BTCrush that it was violating securities laws with its marketing. They also issued a cease and desist order to Bitconnect back in January. These recent events reveal that government regulators are starting to take action on investigating what they perceive as fraudulent ICOs and cryptocurrency activities.
Read more: https://www.dashforcenews.com/operation-crypto-sweep-to-investigate-cryptocurrency-investments/
More than 40 U.S. states and Canadian provinces comprise the North American Securities Administrators Association in charge of the recently launched investigation of “fraudulent Initial Coin Offerings (ICOs)” and other “cryptocurrency-related investment products”.
So far, the plan has purportedly started 70 investigations. President of the NASAA, Joe Borg, said that “the persistent exploitation of the crypto ecosystem by fraudsters is a significant threat to Main Street investors in the United States and Canada”. He also related the current investigation to the 1990s initiative to fight fraud in the internet stock sector during the dot-com bubble.
Joseph Rotunda, the director of enforcement at the Texas State Securities Board said that “the market for cryptocurrency investments is saturated with fraud, and our work is only revealing the tip of the iceberg”. His agency previously issued a warning letter to U.K.- based BTCrush that it was violating securities laws with its marketing. They also issued a cease and desist order to Bitconnect back in January. These recent events reveal that government regulators are starting to take action on investigating what they perceive as fraudulent ICOs and cryptocurrency activities.
Read more: https://www.dashforcenews.com/operation-crypto-sweep-to-investigate-cryptocurrency-investments/