SEC preparing cryptocurrency fraud crackdown, Jay Clayton’s biggest enforcement move yet

SEC could bring dozens of bitcoin fraud cases over next year: Gasparino

FBN’s Charlie Gasparino on why the SEC could bring dozens of bitcoin fraud cases over the next year.

FOX Business has learned the Securities and Exchange Commission is ready to lower the hammer on dozens of cases involving cryptocurrency fraud impacting small investors. This would be SEC chair Jay Clayton’s biggest enforcement initiative to date and cases could be brought over the next several months.  A spokesman for the SEC declined to comment.

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Clayton, who became Wall Street's top cop last May, has pushed his enforcement division to focus on so-called Initial Coin Offerings, where companies raise money using Bitcoin, according to sources close to the SEC.

Please check back as this is a developing story.

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