RATE Group | SEC Commissioner on Bitcoin: ‘Full of Troubling Developments’
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SEC Commissioner on Bitcoin: ‘Full of Troubling Developments’

30 Apr SEC Commissioner on Bitcoin: ‘Full of Troubling Developments’

Posted at 16:43h in Bitcoin News by

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SEC Commissioner Robert Jackson has some strong opinions about cryptocurrency and initial coin offerings.

In a CNBC interview Monday morning, Jackson said his personal view on Bitcoin is that it’s a space “full of troubling developments.” He didn’t elaborate but said his concerns center more around initial coin offerings (ICOs), which are a mechanism for startups or online projects to raise money without selling stock or going to VCs.

“Investors are having a hard time telling the difference between investments and fraud,” he said.

The SEC has been cracking down on fraudulent ICOs in recent months. The agency has targeted ICOs they suspect are raising money for businesses that don’t even exist. It issued subpoenas to firms and individuals behind projects it believes are breaking the law.

“We’ve been doing a…

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