SEC is working on the regulatory policy for cryptocurrency funds
According to Division of Investment Management director Dalia Blass, the U. S. Securities and Exchange Commission (SEC) is working on the regulatory policy for cryptocurrency investment funds. It was reported by CoinDesk.
She told that the regulator has the power to agree upon any innovations in assets management. The Commission has already received applications to register cryptocurrency-based funds.
So, SEC has to learn different types of assets and how to make sure that investors are fully aware of possible risks.
At the beginning of December, the Commission canceled ICO due to fraud for the first time. SEC accused a Canadian project PlexCorps of deceiving several thousands of investors. The regulator fined its directors and froze the assets.
By the way, SEC is the main institution that controls and regulates the securities market in U. S.