SEC has “dozens” of investigations open in the cryptocurrency space

The SEC has “dozens” of investigations open in the cryptocurrency space, a senior agency official said March 15.

Securities and Exchange Commission Enforcement Division Co-Director Stephanie Avakian said “We are very active, and I would just expect to see more and more.”

The commission has brought more than a half-dozen cryptocurrency related actions against companies since September 2017, according to Bloomberg Law’s ICO Developments Tracker. The actions came after the agency released a first-of-its-kind investigative report that found digital tokens an organization sold to raise capital were securities and subject to applicable U.S. laws.

The commission also released a statement on March 7th reminding cryptocurrency trading platforms that many of them may need to register with the SEC as exchanges.

“We’re doing obviously a lot in the crypto space, and we’re seeing a lot in the crypto space,” Avakian said.

Write: Sara Bauer


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