SEC Launches Investigation into the Cryptocurrency Market


Over the past few months, the SEC contacted and halted the ICOs of several companies including Munchee and AriseBank. The Commission also suspended trading in companies involved in cryptocurrency and blockchain technology including Cherubim Interests (CHIT) PDX Partners (PDXP), and Victura Construction Group (VICT).

The SEC also filed fraud charges against BitFunder, a former bitcoin-denominated platform and its founder, John E. Montroll. The regulator alleged that firm and its founder defrauded users by misappropriating their bitcoins.

BlackRock, the world’s largest asset manager, recently stated that investors should only consider investing in cryptocurrencies if they can stomach complete losses.