The US Securities and Exchange Commission (SEC) has released a list of 28 unregistered cryptocurrency firms that provide investors with false information.
Some of the startups on the list position themselves as new trading platforms, while others provide services to retirees. Some describe themselves as law firms providing assistance to victims who have suffered from the actions of cryptocurrency scammers. The sites of the three organizations blacklisted by the SEC do not work at all. The agency said that investors have claims against all 28 listed firms.
It turned out that these firms are primarily targeted at people living outside the United States. To attract investors, firms publish information that misleads people on their resources. For example, the projects call themselves the most trusted digital currency investment firms and promise to trade the “most popular coins” of 2018.
However, the SEC believes that the statements of these firms are too good to be true. Therefore, the regulator has compiled a list of “suspicious” projects so that experienced and novice investors do not fall victim to cybercriminals. The SEC periodically warns investors about possible cases of fraud. Earlier, after numerous checks, the Commission published lists of companies organizing illegal ICOs.
Perhaps after the arrival of Gary Gensler, whom US President Joe Biden plans to appoint as chairman of the SEC, the regulation of the cryptocurrency industry will not be so conservative. Given that Gensler has a positive attitude towards cryptocurrencies, the SEC may take new approaches to overseeing the industry due to the strong interest of private and institutional investors. However, the requirements for digital asset firms could be tightened even further to thwart the spread of cryptocurrency fraud.
Recall that in 2020, the SEC collected more than $ 4.68 billion in fines and confiscated illegal proceeds. This is the highest amount of fines in the entire history of the department.
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