SEC Ceases Activities of Unregistered Crypto Hedge Fund

September 13, 2018

The US Securities and Exchange Commission (SEC) issued an edict on September 11 to urgently stop illegal activities by the head of a hedge funds who invested in cryptocurrency and violated from investment organization registration standards.

The regulator said that the organization called САМ maintained fund operations and claimed to be the first regulated crypto firm in the US.

САМ invested over 40% of its assets in digital securities and initiated full-fledged operations without regulator's approval.

In accordance with the SEC order, Timothy Enneking’s CAM raised more than $3.5 million over 4 months last year and alleged the fund had already been under SEC control and provided all documents for official registration.

The organization will stop illegal activities and repay a $200,000-levy imposed by the regulator yet did not give any comment on the situation.

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