Bitcoin
BTC$23 377.12

-4.18%

Ethereum
ETH$1 842.25

-5.57%

Tether
USDT$1.000068

0%

USD Coin
USDC$0.999915

-0.01%

Binance Coin
BNB$306.80

-4.80%

XRP
XRP$0.374134

-3.28%

SEC is committed to monitoring the activities of digital Asset firms


16 Dec 2019

#Ethereum

United States SEC chairman, Jay Clayton, has disclosed that the commission is paying strong attention to promising blockchain tech companies. He said his organization is seriously watching the activities of these companies to protect investors.

In a testimony he gave at the Senate Committee on Banking, Clayton admitted that the SEC is closely monitoring the development of startup and promising companies in the blockchain space. He further pointed out that the commission is dedicating a huge crunch of time and resources to make sure the investors of these companies do not get ripped off.

According to him, the commission knows the importance of these crypto companies in capital formation and innovation. But at the same time, it’s not relenting on its efforts to protect the interest of US investors.

In his assertion, the SEC had taken a proactive regulatory approach that will foster both capital formation and innovation in the industry, while protecting the market and the industry.

Clayton also revealed that the SEC had placed security rules on digital asset companies that have strayed in their commitment to investors. This year alone, the commission had fined several crypto companies for violating registration requiems and engaging in fraudulent activities.

Clayton also said SEC filed charges against companies who unlawfully promoted their ICOs and deceived investors. It has also sued firms that used unlawful digital asset platforms for their crypto dealings. According to Clayton, the SEC is not relenting on its efforts to sanitize the industry for genuine digital assets companies and traders.

He said, “emergency action to block an alleged unregistered, ongoing, public digital token offering in the United States that has raised more than $1.7 billion of investor funds.”

SEC blocked an unlawful digital token


To prove its point, SEC recently filed a case against a digital assets company that unlawfully offered tokens to raise about $1.7 billion. There is another case against KIK for its unlawful registration of its ICO, which raised more than $100 million. SEC is bothered about investor funds, which is why it has increased its scrutiny efforts on these digital companies.

SEC throwing its weight behind genuine companies


According to Clayton, SEC is not only there to punish offenders. It has also offered its support to digital companies that operate within the rules. To buttress its points, SEC recently issued an approval letter to TurnKey Inc. It stated that since the business-travel startup is operating within its limit, TurnKey’s tokens will not be regarded as securities. On a similar note, SEC gave Paxos Trust no-action relief to complete broker-dealers trades on its blockchain platform.

Besides, last week SEC gave NYDIG an approval to offer shares to institutional investors for a new investment platform that’s focused on Bitcoin futures. These are some of the companies the SEC has supported because they didn’t break any rules. The commission has reiterated that digital asset companies that are operating within the regulations have nothing to worry about. The commission is only interested in those violating the rules and operating outside the provisions of the commission.

Author: Ali Raza for Crypto-Rating.com

Related

ETH devs move up the date for Merge
ETH devs move up the date for Merge
Influencers Talk about a Very Long Crypto Spring
Influencers Talk about a Very Long Crypto Spring
Ethereum's bearish U-turn? ETH price momentum fades after $1.6K rejection
Ethereum's bearish U-turn? ETH price momentum fades after $1.6K rejection
Ether price stalls at $1,630 after gaining 50% in under a week
Ether price stalls at $1,630 after gaining 50% in under a week
Institutional investor sentiment about ETH improves as Merge approaches
Institutional investor sentiment about ETH improves as Merge approaches
Bitcoin and Ethereum: More Upside
Bitcoin and Ethereum: More Upside
Cryptocurrencies: Run or Wait?
Cryptocurrencies: Run or Wait?
MultiBank Group Leverages Its Power to Increase Global Crypto Adoption
MultiBank Group Leverages Its Power to Increase Global Crypto Adoption
Bitcoin and Ether reached two of three bears' targets
Bitcoin and Ether reached two of three bears' targets

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 86% 13 $23 377.12 -4.18% -4.83% $447 075 937 480 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.8% 57 $1 842.25 -5.57% -2.51% $224 771 545 069 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $1.000068 0% -0.03% $67 570 562 281 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.999915 -0.01% 0.01% $53 159 903 576 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 68% 64 $306.80 -4.80% -7.81% $49 498 485 536 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 92.4% 10 $0.374134 -3.28% -1.89% $18 473 812 799 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $1.000141 0.01% 0.02% $18 288 013 118 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 82.4% 30 $0.536096 -6.82% -1.61% $18 191 903 489 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 82.4% 33 $40.80 -8.29% -8.88% $14 232 149 113 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 82% 28 $0.081156 -7.02% 12.66% $10 767 081 650 DOGE 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 HEX (HEX) HEX HEX predictions 67.6% 66 $0.058867 -5.25% -5.51% $10 208 131 428 HEX 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 70% 54 $8.44 -7.64% -10.97% $9 351 379 972 DOT 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 77.2% 45 $0.000015 -8.13% 18.92% $8 164 105 683 SHIB 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 71.2% 63 $25.73 -8.40% -14.00% $7 332 766 147 AVAX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.