The Security and Exchange Commission (SEC) of U.S has expanded the investigations to identify and arrest all scammers and frauds related to crypto-tokens. Government legislation has also asked SEC for suggestions so that they may be able to discover the methods of crypto-storage and find out evidence regarding price manipulation. This way the regulators can find out the vulnerability of these tokens against external breaches.
SEC released the annual enforcement report that discussed the investigations related to all recent ICO’s. The report also discussed the actions taken against more than 10 ICOs in this year alone.
SEC is regulating firms that are overseeing more than hundred million dollars of clients’ assets. The agency also demands all the information transferred between the government and the ICOs by questioning large-scale advisors.
Although fiat currencies are easy to track because they are mostly present in firms or banks, however, digital tokens are hard to track and SEC has asked for the advisors’ policies regarding their storage. The advisors that don’t have proper storage system rules can expect trouble from SEC.
America recently had its share of crypto-attacks which has motivated SEC to work even faster in order to stabilize these tokens. SEC also inaugurated their own web portal that can be accessed by anyone who has any queries regarding government policies. FinHub the web portal allows members of crypto-sphere to contact the regulator directly.
The Agency advises users to use their crypto-wallets like the conventional ones and be careful when investing and not to participate in any less than legal activities. In case of any confusion, the users can reach SEC directly.`