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The US Securities and Exchange Commission (SEC) reportedly began probing hedge funds cryptoasset as part of 39; a more general repression offers (ICO) that violate federal securities regulations.
Citing three people aware of the case, Bloomberg reports that the SEC has sought information from a number of hedge funds cryptoasset seeking information about their business operations.
There are currently more than 220 hedge funds dedicated to cryptoasset space and 187 of these funds have been open since the beginning of 2017. Since most of these companies manage less than $ 150 million in cash, there are more than $ 150 million in cash. assets, they are not required to register. with the SEC and are rather regulated at the state level.
Familiar sources with the probe said regulators want to know what methodological funds use to evaluate and evaluate their investments in cryptoasset – which often include participations in OIC tokens – and their conservation policies.
However, the publication also reports that the SEC’s enforcement division has issued subpoenas to other funds, perhaps stating that regulators believe that these funds are going to the bank. 39 against federal securities regulations.
In these cases, the SEC seems interested in identifying the relationships between hedge funds and ICO operators. They also want to know if the fund managers have personally invested in the ICO tokens held by the fund without making the appropriate disclosures.
The SEC’s investigation into hedge funds cryptoasset resulted in the publication of the application by the agency of the industry of the ICO. SEC Chairman Jay Clayton has repeatedly stated that the vast majority of the ITOs he has observed are unregistered securities offerings and that the agency has drawn an increasing number of warnings to encourage participants to comply with the regulations.
Earlier this month, reports indicated that the SEC had assigned “dozens” of ICO operators and advisers and asked others – including the Overstock subsidiary. tZero – to voluntarily transmit information on their symbolic sales.
Last week, the SEC warned of cryptocurrency trading, warning them that it is illegal to list security tokens without registering with the SEC and that it is illegal It is also illegal to list security tokens that have not been registered with the SEC by issuers.
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