Ultimate magazine theme for WordPress.

North American Securities Administrators Association (NASAA) Investigating ICOs for Fraud

14,642

 Operation Cryptosweep and the ICO Market

Since beginning a crackdown on fraudulent ICO’s with “Operation Cryptosweep” in May 2018. The body has engaged in 190 active ICO fraud investigations, up from 75 just a few months ago.

In 2018 alone, ICOs have raised a total of $11 billion up from $7 billion in 2017, the majority of which comes from “mom and pop” retail investors. Statistically, this group of investors is the most likely to fall victim to fraud.

Inevitably, this unfortunate merger of opportunity has seen the ICO boom come with a substantial risk of fraud. Between last year and the present, several exit scams and Ponzi scheme ICOs have successfully raked in millions of dollars. This all looks set to change as the policing on the crypto fundraising space in North America tightens up.

Dissenting Voices

Due to NASAA. There are a number of actors within the ICO space who do not agree with the company ability. So they can act in a regulatory capacity over ICOs.

The SEC on its part refuses to budge, stating in June that while it considers bitcoin and ether to be utility tokens, it still considers the majority of ICOs to be security sales which are subject to its jurisdiction. SEC Chairman Jay Clayton reiterated this in an interview with CNBC where he said:

“If it’s a security, we’re regulating it.”

NASAA  (1919) Is the world’s oldest cross-border organization dedicated to protecting investors. Since launching Operation Cryptosweep across the 67 states, provinces and territories in Canada, Mexico, and the U.S. that are part of the association, NASAA has successfully concluded 46 enforcement actions against fraudulent ICOs and related products.

5 Comments
  1. 바카라전략 says

    You made several good points there. I did a search on the theme and found most folks will go
    along with with your blog.

  2. massage foot says

    Nice post. I learn something totally new and challenging on websites
    I stumbleupon everyday. It’s always useful to read articles from other authors and practice something
    from other sites.

  3. 바카라사이트 says

    Very interesting points you have remarked, thank you for putting up.

  4. 카지노사이트 says

    Have you ever considered creating an ebook or guest authoring on other blogs?

    I have a blog based on the same information you discuss and would really like to have you share some stories/information. I know my visitors would enjoy
    your work. If you are even remotely interested, feel free to shoot
    me an email.

    1. Robert C.S. says

      You can contact here I would love to hear what you have in mind! coindiarynews@gmail.com

Leave A Reply

The team of DiaryCoin would like to keep you updated with the lastest crypto-news

Would you like to?