Unregistered Crypto Hedge Fund Traded Securities, SEC Says

By Rachel Graf (September 11, 2018, 5:05 PM EDT) -- In a first for the agency, the U.S. Securities and Exchange Commission said Tuesday a hedge fund manager that invested in cryptocurrencies violated laws by not registering with the commission.

The SEC ordered Crypto Asset Management LP and its founder, Timothy Enneking, to pay a $200,000 fine for allegedly touting their Crypto Asset Fund LLC as the "first regulated cryptoasset fund in the United States" without registering as an investment company with the securities regulator. Enneking told Law360 that he believes the biggest takeaway from the order is the SEC's latest affirmation that digital tokens are in fact securities.

"The SEC...

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