Regulators are turning up the heat on companies looking to cash in on the cryptocurrency craze.
Major media outlets recently reported that the U.S. Securities Exchange Commission (SEC) has issued dozens of subpoenas and information requests to companies, investors and advisers engaged in cryptocurrency-related activities. The SEC’s probe follows repeated warnings that many token sales, commonly referred to as initial coin offerings or ICOs, may be violating securities laws. This activity signals the agency’s intention to thoroughly scrutinize ICOs.
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