Just read NASAA Provides Update on ‘Operation Cryptosweep’ Crypto Crackdown

NASAA Provides Update on ‘Operation Cryptosweep’ Crypto Crackdown

Operation Cryptosweep Takes Aim at Unregulated Crypto InvestmentsBack in May 2018, the NASAA announced Operation Cryptosweep – one of the “largest coordinated series of enforcement actions by state and provincial securities regulators in the United States and Canada”. The new task force immediately began investigating, at scale, a wide range of cryptocurrency-related investment products and ICOs. Today, the NASAA published a new press release providing an update, recommitting its efforts in cracking down against crypto-related fraud. The United States Securities and Exchange Commission says to watch out for “red flags” commonly found in ICO investment schemes. These include endorsements from celebrities, the promise of guaranteed returns, a lack of regulatory compliance, optional credit card payments, and more.

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Saturday, September 15, 2018