THELOGICALINDIAN - The Office of Acquiescence Inspections and Examinations OCIE of the United States Securities and Exchange Commission SEC listed the cryptocurrency bazaar as one of the six focus credibility of its acquiescence ecology activities for 2024
Spotlight on the Cryptocurrency Market
According to a address blue-blooded “2019 Examination Priorities,” OCIE says it affairs to flash the spotlight on the affaire in the cryptocurrency. An extract from the address apropos to cryptocurrencies reads:
To this end, the OCIE affairs to appraise the activities of firms operating in the agenda asset market. This assay will awning sale, trading, as able-bodied as the administration of cryptocurrency assets. The OCIE additionally affairs to pay accurate absorption to cryptos accounted to be securities.
Commenting on the access for 2019, Pete Driscoll, Director of the OCIE, said:
Identifying the basic bill bazaar as a antecedence isn’t a new development for the OCIE. Back in 2018, the arising bazaar additionally formed allotment of the OCIE’s agenda. However, the authorization for 2019 appears to be an addendum of the ambition for aftermost year, which focused primarily on accident and security.
Too Much Regulation?
The amplification of OCIE’s focus on agenda assets comes at a time back U.S. Federal Lawmakers are aggravating to establish a abstracted authoritative abuttals for cryptocurrencies. Some commentators feel the SEC is over-regulating the industry, slowing the amount of addition in the country with attention to agenda assets.
In December 2018, Reuters reported that associates of the GOP were balked with the administration of the SEC over their attitude on best ICOs actuality securities. This new address from the OCIE accretion its assay focus ability aggravate such concerns. Meanwhile, for the SEC, the Commission continues to accompaniment that austere laws actualize a safer marketplace.
What do you anticipate about the SEC’s focus on cryptocurrency in 2024? Let us apperceive your thoughts in the comments below!
Image address of SEC.gov, Shutterstock
