SEC Seen As Broadening Crypto Reach With Latest Actions
Law360 (September 13, 2018, 7:32 PM EDT) -- U.S. regulators’ first-of-their-kind actions against a hedge fund and broker-dealers in the cryptocurrency sphere this week indicate that the agencies' focus is shifting beyond issuers of digital tokens to any person or entity that eventually touches these types of securities, including investors, brokers or exchanges, experts said.
With its allegations against Crypto Asset Management and a “superstore” for initial coin offerings, the U.S. Securities and Exchange Commission has effectively warned market participants that if they are investing or otherwise trading digital tokens, they are likely working with securities and need to comply with relevant laws, said blockchain and cryptocurrency lawyer Joshua...
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