SEC Extends Reach to Digital Currencies

US regulator makes strongest move yet toward overseeing finance’s Wild West

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The Securities and Exchange Commission (SEC) released a series of investor bulletins, investigative reports and statements late on July 25, detailing its examination of a recent case of fraud in the ether digital currency.

It found that certain initial coin offerings (ICOs), which act as a form of equity crowdfunding by allowing investors to purchase tokens or coins that entitle them to a share of a company or project, can behave in the same way as traditional investments. As such, the SEC says

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