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Basis cofounder and CEO Nadir Al-Naji discusses the upside of strict regulation with The Ledger team.
Time

A crackdown on cryptocurrency-related scams is being coordinated by state regulators across the country, as con artists play up the popularity of Bitcoin.

Various enforcement actions, including some taken in provinces of Canada, have included cease and desist orders involving companies with names like Cryptocashback, Cryptosecure, DasCoin, ThinkCoin, Ubcoin, Leverage and Krios.

The North American Securities Administrators Association — a group of state securities regulators who work to protect investors — said Monday that 70 investigations have opened up relating to initial coin offerings and cryptocurrency programs. There are 35 pending and completed enforcement actions nationwide since the beginning of May. 

Millennials…