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Home Latest News Policy and regulation During Jay Clayton’s tenure, SEC brought 56 cases against crypto-related firms

During Jay Clayton’s tenure, SEC brought 56 cases against crypto-related firms

As reported by cointelegraph.com, the United States Securities and Exchange Commission has brought 56 enforcement actions against initial coin offerings (ICO), blockchain and digital asset related companies since July 2017.

On Nov. 16, the SEC released a report on the commission’s selected accomplishments during chairman Jay Clayton’s tenure, and the regulator noted the SEC’s efforts to combat cyber-related misconduct as well as violations by companies involved in the crypto industry.

According to the report, the SEC brought 56 cases involving attempts to defraud investors through the use of digital asset securities as well as violations of the registration provisions of the federal securities laws. The SEC also mentioned that authority halted 18 suspected fraudulent schemes involving blockchain and digital assets.

The SEC’s active collaboration in combating misconduct in the crypto industry ramped up back in July 2017 when the regulator issued an investigative report about the offers and sales of digital assets.

The SEC’s report follows news of Clayton’s upcoming departure from the commission. According to the SEC official announcement on Nov. 16, Clayton will leave the agency at the end of 2020.

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