Skip to main content

SEC’s Crypto Chief Signals Ramp-Up in Enforcement: ‘We’re Going to Continue to Bring Those Charges’

SEC's Crypto Chief Signals Ramp-up in Enforcement: 'We're Going to Continue to Bring Those Charges’

According to David Hirsch, head of the U.S. Securities and Exchange Commission’s (SEC) Crypto Assets and Cyber Unit, more enforcement actions against firms that haven’t properly registered with the regulator are expected. Hirsch discussed crypto assets and exchanges Tuesday at an SEC forum in Chicago.

SEC Crypto Head Forewarns Tougher Enforcement

While the crypto community has focused on the XRP case and lawsuits against Coinbase and Binance, the U.S. Securities and Exchange Commission may target more violators soon. David Hirsch, head of the SEC’s Crypto Assets and Cyber Unit, made the statements, as reported by Coindesk.

On Tuesday at the Securities Enforcement Forum Central in Chicago, Hirsch said the SEC will “continue to bring those charges.”

“We’re going to continue to be active as to intermediaries,” Hirsch told the audience. “That can be brokers, dealers, exchanges, clearing agencies or any others who are active in this space, are within our jurisdiction and not meeting their obligations, either through registration or failure to provide adequate or complete disclosures.”

The SEC has cracked down on several high-profile crypto companies such as Binance, Bittrex US, and Coinbase. More recently it has been focused on a couple of non-fungible token (NFT) projects that raised millions without disclosure.

Hirsch insists more enforcement is coming. “We’re going to continue to conduct investigations, we’re gonna be active in the space, and adding the label of [decentralized finance] is not going to be something that’s going to deter us from continuing our work,” the SEC official remarked.

The SEC official noted the regulator has significant ongoing litigation. Beyond enforcement actions against exchanges and brokers, the market capitalization of crypto coins that the SEC claims are crypto securities stands at $85.4 billion.

What do you think about the SEC’s crypto chief and his statements at the forum in Chicago? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/IQje5y7
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more