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The United States Securities and Exchange Commission (SEC) has opened investigations into dozens of startups operating in cryptocurrency. confirmed on Thursday.

The SEC investigates “dozens” of cryptocurrency startups, confirms the official

Stephanie Avakian, co-director of the SEC’s enforcement division, confirmed rumors that the agency was investigating a large number of original operators and associated firms for breaches of federal securities regulations.

“We are very active and I would expect to see more and more,” Avakian said at a conference of the Association of Investment Advisers in Washington, according to a Bloomberg Law report. “We obviously do a lot in crypto space, and we see a lot in the crypto space.”

Avakian said last year that country offices were quickly becoming a priority for the SEC’s enforcement division, and the agency has clearly stated its intention to monitor markets for this nascent fundraising mechanism.

The SEC accelerates the surveillance of the OIC

Earlier this month, reports revealed that the SEC had issued up to 80 summonses to OIC traders and advisers, seeking to verify whether they had violated the federal laws by holding offers of non-registered securities.
Overstock, whose subsidiary tZero is attempting to raise $ 250 million via an ICO, has acknowledged that its symbolic sale is under investigation, although Patrick Byrne has stated that the $ 250 million Ico sale is under investigation. company voluntarily submitted to the investigation and had not received any summons. The firm also complained that the investigation was threatening not only its ICO but also its main business as an e-commerce retailer.

The SEC also investigates cryptoasset hedge funds in the event of conflicts of interest, as well as how fund managers value assets in their portfolios.

Finally, the agency warned that cryptocurrency exchanges forbade them to list security tokens without registering with the agency as a securities trading platform – statement important, given the broad interpretation of these tokens.

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