SEC Chairman Jay Clayton Commends Regulators Involved in ‘Operation Crypto-Sweep’

SEC chairman Jay Clayton has “applaud[ed]” his “fellow regulators in the United States and Canada who are coordinating and participating in efforts to police fraud in the Initial Coin Offering (ICO) markets.”

“The enforcement actions being announced by NASAA should be a strong warning to would-be fraudsters in this space that many sets of eyes are watching, and that regulators are coordinating on an international level to take strong actions to deter and stop fraud,” Mr. Clayton said.

The “efforts” referred to by Mr. Clayton have seen more than 40 North American state and provincial regulators participate in ‘Operation Crypto-Sweep’ – an “enforcement sweep” targeting fraudulent ICOs and crypto investment schemes which has resulted in over 70 investigations thus far.