Since July 2017, the US Securities and Exchange Commission has filed 56 enforcement actions against the first coin offering, blockchain and digital asset companies.
On November 16, the SEC issued a report on selected achievements of the authority during its chairmanship, Jay Clayton, from May 2017 to November 2020.
As part of the 28-page report, the regulator referred to the SEC’s efforts to combat “crime in cyberspace”, including breaches by companies operating in the crypto industry.
According to the report, the Securities and Exchange Commission has opened 56 cases related to attempts to defraud investors using digital securities and breaches of the registration provisions of federal securities laws. The panel also indicated that management has stopped 18 suspected fraudulent schemes using blockchain and digital assets.
The SEC’s active involvement in combating behavior in the cryptocurrency industry intensified in July 2017, when the regulator published a report on the investigation of offers and sales of digital assets.
In September 2017, the SEC established an online unit dedicated to combating offenses in the cryptocurrency market, reflecting President Clayton’s priorities in these areas. In 2018, the regulator also launched a primary cryptocurrency website to raise awareness of typical ICO fraud alerts and to help educate investors.
The SEC report comes after the news of Clayton’s imminent resignation from the commission. The Securities and Exchange Commission (SEC) officially announced on November 16 that Clayton will leave the agency by the end of 2020, saying that Clayton was one of the oldest presidents.