SEC Closes Around 12 Illegal ICOs Over the Last Year

November 7, 2018

The US Securities and Exchange Commission has officially closed down about 12 ICO projects during the last year. 3 of them have already raised approximately 70 million dollars via initial coin offering.

Regardless of the amount the report by the SEC says that the exchanges have compensated assets and forfeits to the tune of almost $4 million raised since January 1 this year. The agency also noted that the ICO sector now witnesses the number of incidents growing when the regulator has to interfere in cryptocurrency projects.

As the SEC member told, Cyber Unit formed last year is now focused primarily on cyber crimes. For today this unit has conducted over 250 investigations related to this sector.

Note that according to the regulator, its activity will not be confined to fighting illegal ICO projects only. The SEC will also monitor unlicensed broker dealers and other startups the sell digital coins.

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