"Securities" forms a cross-border team to combat international fraud in crypto
The U.S. Securities and Exchange Commission (SEC) announced the establishment of a new cross-border task force to address international fraud issues, including fraud related to cryptocurrencies.
The agency stated in its press release that the team will initially be tasked with investigating potential violations of federal securities law by foreign companies, in addition to tracking market manipulations such as Pump and Dump schemes and Ramp and Dump, where misleading rumors are used to inflate the price of an asset before selling it off collectively, leaving individual investors with significant losses.
The SEC emphasized that these schemes pose a particular threat to individual traders, especially in the cryptocurrency market, warning against engaging in suspicious investments while providing guidance to identify them.
The agency added that the task force will not hesitate to pursue violators, also focusing its efforts on regulatory entities such as auditors and underwriters, which assist foreign companies in entering U.S. capital markets.
Source: Statement from the U.S. Securities and Exchange Commission
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They won't need that if everything is linked in a single ledger or one international blockchain
Do you know why we need an international blockchain?
SOMI#
