RATE Group | SEC FWRO Director: Office is investigating several cryptocurrency frauds
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SEC FWRO Director: Office is investigating several cryptocurrency frauds

19 Oct SEC FWRO Director: Office is investigating several cryptocurrency frauds

Posted at 23:26h in Cryptocurrency News by

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The U.S Securities Exchange Commission [SEC] not only acts as a bridge between Bitcoin space and an ETF but also for the crypto-space and tokens that are classified as securities. However, one of the most prominent roles the commission plays is being the guardian of investors, ensuring that all the necessary measures are taken in order to keep them safe from scams, standing in as one of the key regulatory authorities of crypto-market.

Over time, the commission took the main stage by taking down scams and unregistered securities offerings, even taking action against the likes of Telegram, EOS, and Kin. Moreover, SEC charged Jonathan Lucas, founder and CEO of an online adult marketplace with fraudulent ICO scam, alleging that Lucas had raised $63,000 in crypto via “fraudulent offer and sale of unregistered digital securities of Fantasy Market,” at the beginning of August 2017.

The scams in the cryptocurrency market was one of the topics that were discussed at…

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