Bitcoin

The SEC filed 56 cases against cryptocurrency companies during Jay Clayton’s tenure

The US Securities and Exchange Commission (SEC) has filed 56 enforcement actions against ICOs (Initial Coin Offerings), blockchain and digital asset companies since July 2017.

On November 16, the SEC Publicity a report on the selected achievements of the commission during the presidential term Jay Clayton from May 2017 to November 2020.

As part of the 28-page report Regulator cited SEC efforts to combat “cyber misconduct”including violations by companies operating in the cryptocurrency industry.

The SEC filed 56 cases against cryptocurrency companies during Jay Clayton’s tenure
The SEC filed 56 cases against cryptocurrency companies during Jay Clayton’s tenure

According to the message, The SEC filed 56 cases related to attempts to defraud investors with digital securitiesas well as violations of the registration provisions of the Federal Securities Act. Authority too 18 suspected fraudulent systems with blockchain and digital assets were stoppedthe SEC found.

The SEC’s active involvement in combating misconduct in the cryptocurrency industry increased in July 2017 when the regulator released an investigative report into digital asset deals and sales.

In September 2017 The SEC set up a cyber unit dedicated to combating misconduct related to the digital currency marketThis reflects President Clayton’s priorities in these areas. In 2018 the regulator did too launched a fake ICO website to draw attention to typical warning signs of fraudulent ICOs and to promote investor education.

The SEC report follows news of Clayton’s impending resignation from the commission. The SEC officially announced on November 16 that Clayton would be leaving the agency in late 2020.and found that he was one of the oldest presidents.

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