A group of financial regulators from the US and Canada announced an "international crackdown" to combat fraudsters in the field of cryptocurrencies. This is reported by Washington Post.
The initiative, sponsored by the North American Securities Administrators Association (NASAA), received the name "Operation Cryptosweep." It consists of "nearly 70 inquiries and investigations and 35 pending or completed enforcement actions since the beginning of the month." In addition, even more investigations are on the way, but it is not clear now when it will be told about the related enforcement measures.
The initiative began to gain momentum in April, when a working group consisting of NASAA members was established to "to begin a coordinated series of investigations into ICOs and cryptocurrency-related investment products". The regulators will be focused on the ICO and the sale of tokens.
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Director, TSSB's Enforcement Division
NASAA has not yet commented on the situation, but other agencies involved in the operation, reported that the initiative to combat fraudsters has a large-scale nature. Examples of state-based regulatory actions include one that touted false endorsements from celebrities like actress Jennifer Aniston.