RATE Group | Md. AG announces coordinated cryptocurrency crackdown | Spotlight
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Md. AG announces coordinated cryptocurrency crackdown | Spotlight

15 Aug Md. AG announces coordinated cryptocurrency crackdown | Spotlight

Posted at 05:59h in Cryptocurrency News by

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Maryland Attorney General Brian E. Frosh announced in a press release Aug. 14 that his Securities Division is participating in the nationwide “Operation Cryptosweep,” an initiative of the North American Securities Administrators Association.

Since the beginning of the year, 35 enforcement actions against Initial Coin Offerings and cryptocurrency-related investment products have been completed by state and provincial securities regulators in the United States and Canada, according to the release. The Maryland Securities Division has initiated an enforcement action against a Bitcoin trading platform, which led its investors to believe they could earn as much as 150% through passive investments, and a Maryland resident who sold investments in the trading platform.

Recent headlines touting the possibility of new cryptocurrency products (such as one backed by Facebook) and the surging value of some cryptocurrencies (such as Bitcoin) with a sharp…

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