SEC increases regulatory efforts in the Crypto Assets field, recently initiating multiple charges.

With the rapid development of the Crypto Assets sector, the U.S. Securities and Exchange Commission ( SEC ) has significantly increased its regulatory efforts in the industry. Recently, the SEC has frequently held hearings and initiated charges against several companies and individuals involved in Crypto Assets.

At a hearing held on September 24, SEC Chairman Jay Clayton stated that although there are difficulties in regulating ICOs under existing securities laws, the SEC will still prioritize protecting investors. SEC Commissioner Jackson argued that the SEC should formulate new rules to encourage the development of Crypto Assets while increasing industry transparency.

According to statistics, since August, the SEC has initiated 6 cases of accusations against the Crypto Assets sector, involving various entities such as ICO project companies, digital asset exchanges, and blockchain companies, with penalties ranging from $260,000 to $10.24 million. The main cases include:

1. On August 12, the SEC accused Reginald Middleton and others of a $15 million ICO fraud, requesting to freeze related assets.

2. On August 12, the SEC charged SimplyVital Health, Inc. with unregistered securities issuance and demanded the return of raised funds.

3. On August 20, the SEC issued a $260,000 fine to a certain crypto analysis firm for failing to disclose the compensation received for projects that were given positive ratings.

4. On August 29, the SEC charged a certain company for operating an unregistered exchange, imposing a fine of $10.24 million and requiring the return of $13 million in raised funds.

5. On September 18, the SEC sued a company and its founders for engaging in illegal securities issuance activities.

6. On September 23, the SEC accused the CEO of a certain online adult entertainment platform of manipulating a fraudulent ICO.

Despite increasing regulatory efforts, the SEC is also trying to open up more compliance channels. In July this year, the SEC approved two companies to issue digital currency through RegA+. According to statistics, the SEC has approved 39 STO projects and 2 ICO projects.

In fact, as the application of Crypto Assets becomes increasingly widespread, global regulatory agencies are adopting a more cautious attitude towards this field. Especially after a certain social platform announced its plan to issue a stablecoin, countries have accelerated their regulatory arrangements for Crypto Assets.

Crypto Assets, as an emerging investment method, have unique characteristics, and their regulatory approaches also differ. Currently, the crypto industry is still in its early stages, and regulatory policies are continuously being explored and improved. How regulation will develop in the future remains to be seen.