Monday afternoon, hours after announcing one California company had halted its $15 million ICO following a probe from the agency, SEC chairman Jay Clayton issued a statement further warning investors of the risks posed by the new offerings.

“A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation,” Clayton said in the statement.

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