Cryptocurrencies
SEC Crypto Settlements Spur Expectations of Wider ICO Crackdown
- Airfox, Paragon must register tokens, compensate investors
- Crypto market drops to 13-month low on liquidation concern
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The cryptocurrency market is reeling after the SEC fined two companies that didn’t register initial coin offerings as securities and allowed investors to reclaim their money.
“There’s a global crackdown coming,” said David Silver, a securities fraud and investment loss attorney from Coral Springs, Florida. “Government wasn’t going to be intimidated by a bunch of libertarians and anarchists -- in the next year or two, we’ll see more than just enforcement actions.”