ICO may violate the securities law cryptocurrency financing market lock and lock

According to sources, the US Securities and Exchange Commission (SEC) has issued a subpoena requesting information from technology companies and consulting agencies involved in the issuance of tokens.

The move means that the US government is stepping up regulatory pressure on the multi-billion dollar cryptocurrency market. Earlier, the top US securities regulator has issued a series of warnings suggesting that many tokens are sold, or that the first token issue (ICO) may violate securities laws.

ICO may violate securities laws, cryptocurrency financing market locks and locks

According to informed sources, the contents of this subpoena include information on the pre-sales and sales of the ICO. The information is no longer within the public disclosure of the securities industry. Companies that finance through the issuance of tokens can arrange everything from file sharing technology to pet passports.

A spokesman for the SEC declined to comment.

In 2017, US dollar financing was $6.5 billion. Although the price of Bitcoin and other cryptocurrencies plummeted, this market continued to be hot. According to research and data company Token Report, so far this year, the financing of such products has exceeded 1.66 billion US dollars.

In recent months, from the perspective of protecting investors, US regulators have repeatedly issued notices to encryption companies and their advisors that the above activities are illegal securities rules.

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