THELOGICALINDIAN - While the US Securities and Exchange Commission dishes out subpoenas to cryptocurrency projects like a acceptable abode doles out bonbon on Halloween TechCrunch founderMichael Arringtons 100 actor cryptofund has additionally appear beneath investigation
TechCrunch architect Michael Arrington’s $100 actor cryptofund has been subpoenaed by the U.S. Securities and Exchange Commission — which is no bark off Arrington’s back. He told CNBC on Thursday:
Indeed, the SEC allegedly has no abstraction absolutely what it wants, accepting already adumbrated that regulations in commendations to balance laws do not administer to agenda coins. The abashing created by the SEC has alike acquired abounding cryptocurrency firms to ban U.S. investors from accepting complex in the projects.
Meanwhile, the SEC’s New York, Boston, and San Francisco offices accept been arising subpoenas like it’s their job, in an attack to apprentice as abundant as accessible about the beginning billion-dollar industry. Said Jason Gottlieb, accomplice at Morrison Cohen, who is arresting PlexCorps adjoin accuse of fraud:
According to Arrington, the negativity and abashing created by the SEC is active addition abroad from the United States. He told CNBC:
The US is not the alone country disturbing with regulation, of course. South Korea has ping-ponged aback and alternating while China has absolute banned Initial Coin Offerings. Japan has somewhat auspiciously implemented a licensing arrangement for cryptocurrency exchanges, while European banking authorities in Germany and France are calling for a all-around crackdown.
Still, the US charcoal in the spotlight and risks active out addition while the SEC dithers. Says William Mougayar, columnist of The Business Blockchain:
For now, we’ll aloof accept to delay and see.
What do you anticipate about the SEC’s subpoena-issuing spree? Do you anticipate effective, innovation-supporting adjustment will appear from its investigation? Let us apperceive in the comments below!
Images address of Reuters, Wikipedia Commons, Flickr.
