SEC to Focus on Crypto and ICO Fraud

SEC Office of Compliance Inspections and Examinations Announced 2018 Examination Priorities concerning Cryptocurrency and ICO Fraud
09 February 2018   526

Every year SEC Office of Compliance Inspections and Examinations publishes their examination priorities in order to improve compliance, prevent fraud and monitor risk. This year, inspectors will focus on crypto and ICO fraud.

The financial inspectors of the SEC announced examination priorities on February 7 of 2018. The inspectors will monitor the growth of cryptocurrencies and initial coin offerings (ICOs). Also, they will focus on matters involving critical market infrastructure, duties to retail investors, and developments in cryptocurrency, initial coin offerings, and secondary market trading.

Jay Clayton, SEC Chairman, appreciates OCIE’s dedication to maximizing the effectiveness of their resources with a keen eye toward asset verification, market infrastructure, and duties owed to retail investors.

According to the document, the cryptocurrency and ICO markets have grown rapidly and presented a number of risks for retail investors that is why the regulators will continue to monitor the sale of these products, and where the products are securities, examine the regulatory compliance.

Mt. Gox Trustee Can Sell 2000 BTC Soon

Possible sale of such a large batch can lead to a further fall of the bitcoin price
26 April 2018   167

Head of the Board of Trustees of MtGox, Nobuaki Kobayashi, is probably preparing to sell a new batch of bitcoins, this time at a rate of 2,000 BTC.

This assumption was made by the bitcoin-investor and the head of the Altana Digital Currency Fund, Alistair Milne. In support of his words, he brought to Twitter a link to the trustee's MtGox address.

Alistair Milne Twitter
Alistair Milne Twitter

Apparently, on the morning of Thursday, April 26, from the address indicated, 2,000 were transferred to another address. Some of the funds that were there before (8,000 BTC) were almost immediately expended.

Possible simultaneous sale of such a large batch can lead to a further drawdown of the bitcoin price.

Bitcoin Price Chart
Bitcoin Price Chart

Trading on Wednesday evening at around $ 9,000, on the night of Thursday, the first crypto currency continued the decline started yesterday, dropping at a certain point to $ 8,650. At the time of publication, however, there has been a slight increase - according to Coinmarketcap, the weighted average bitcoine rate at that time is $ 8 790.