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Cryptoassets & Blockchain Legal News

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United States

SEC can deal with ICO crime says the agency’s chairman

October 4, 2017 by Beatrice OZANNE

Appearing before the House Financial Services Committee, the chairman of the Securities and Exchange Commission (SEC) Jay Clayton said that he is cautiously optimistic about the division’s enforcement of the law in the context of ICOs and their potential vulnerability to Pump-and-dump schemes.

He also expressed concern about the new technology’s vulnerability as a potential threat to cryptocurrencies adoption in the financial markets and said that more education on the ICO’s risks is needed.

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