SEC Continues ICO Crackdown with Dozens of Subpoenas

The SEC is on an active quest to remove all illicit offerings from the cryptocurrency ecosystem. That is quite a steep challenge, as there are a lot of things to take into consideration. The commission’s latest effort involves issuing dozens of subpoenas to ICO issuers.

The SEC Steps up its Game

Most people will be pleased to see the SEC take this course of action. There is nothing wrong with what the agency is doing as of right now, even though those who are involved in the ICO industry will not be too pleased with the way things are going. It has become very clear that the government agency is concerned with initial coin offerings and the potentially illegal aspects of some of these projects.

Over the past few months, we have seen the SEC go after potentially illicit ICO offerings. As such, the trading of specific tokens and company shares has been suspended, although it is possible some of those offerings will come back at some point. However, it does not end there for most of the ICO projects, as the next step has already been taken.

To be more specific, the SEC is now issuing subpoenas to virtually anyone involved in issuing ICOs. This means they will not only go after the centralized platforms designed to issue these tokens, but potentially also the trading platforms where these ICO tokens are traded. The goal is to make ICO issuers and facilitators adhere to the same compliance guidelines as traditional securities issuers. Whether or not that is a realistic goal is yet to be determined.

It is evident the securities industry is incapable of dealing with ICO tokens as of right now. More specifically, its infrastructure is not fully compatible with this new token type, and it creates a lot of potential compliance issues. As long as this remains a problem, the ICO industry will not gain any major traction in the US or potentially anywhere else in the world. It’s a very worrisome situation, but it seems the SEC is being proactive about solving all of these problems in the future.

Although issuing subpoenas may be considered a rather severe course of action, it is also necessary, according to the SEC. It wants to further crack down on any companies violating securities laws. For now, it remains unclear which companies or entities have actually received such a subpoena over the past few days, but it seems there are quite a few of them. Getting rid of the illicit elements which promote the ICO model for a business that doesn’t exist is a positive development.

Until ICO issuers register with the SEC, this crackdown will undoubtedly continue. Since most of these tokens also trade on secondary markets that are outside the purview of the SEC, it will be quite interesting to watch how widely this “spree” of subpoenas can reach. It is evident that ICO issuers will need to step up their game and register with the SEC. So far, the entire industry seems a bit slow on the uptake in this regard.

It will also be interesting to see what the future holds for the ICO industry as a whole. Regulatory action against this business model is a positive decision overall, even though it may cause some short-term friction. Whether or not any further legal action will be taken remains to be seen. Anything is possible right now, and it depends on what information the SEC uncovers in the next few days and weeks.


  1. zortilo nrel February 7, 2021
  2. personal finance coach February 9, 2021
  3. Idcash88 slot bola online February 10, 2021
  4. rateio para concursos February 10, 2021
  5. rateio premium February 10, 2021
  6. banner com foto February 13, 2021
  7. fitness shop February 15, 2021
  8. تحدي الفضاء February 15, 2021
  9. Situs slot online February 16, 2021
  10. 192.168.l.3 February 16, 2021
  11. Hot Tub Hard Covers February 16, 2021
  12. Marriage Counselling February 17, 2021
  13. solar company in melaka February 17, 2021
  14. solar panels malaysia February 17, 2021
  15. Free Fire Names February 18, 2021
  16. Noticias de Animes February 18, 2021
  17. canecas personalizadas February 19, 2021
  18. adsl hız testi February 19, 2021
  19. Rabattcode February 19, 2021
  20. Amazon coupons February 19, 2021
  21. remote pc assistance February 21, 2021
  22. jovens de sucesso February 21, 2021
  23. videos February 21, 2021
  24. casamento de February 21, 2021
  25. Agen pkv online February 22, 2021
  26. pauschalreisen February 22, 2021
  27. ielts February 23, 2021
  28. maplestory เถื่อน February 24, 2021
  29. online logo maker February 24, 2021
  30. how to make a youtube intro February 24, 2021
  31. Accessibility Remediation February 24, 2021
  32. Register Domain Name February 24, 2021
  33. solar panels malaysia February 25, 2021
  34. solar panel malaysia February 25, 2021
  35. 3m under sink water filter February 25, 2021
  36. auto transmission shop February 25, 2021
  37. riserva golf February 26, 2021
  38. Bulk Loose Leaf Tea March 2, 2021
  39. DIY Spool March 3, 2021
  40. knowledge base March 3, 2021

Leave a Reply