WASHINGTON (Reuters) - The U.S. Securities and change commission warned Thursday that investors have to “workout warning” with cryptocurrencies like bitcoin, noting state and federal regulators might not be capable of recoup any misplaced investments from illegal actors.
Many promoters of preliminary coin offerings (ICOs) and different cryptocurrency investments are not following federal and kingdom securities legal guidelines, SEC Chairman Jay Clayton and Commissioners Kara Stein and Michael Piwowar said in a announcement. while regulators are seeking to police these quickly developing markets, the SEC advised traders to be vigilant.
“The SEC and country securities regulators are pursuing violations, however we again caution you that, in case you lose money, there's a tremendous chance that our efforts will no longer result in a healing of your funding,” the officers stated.
The government is afraid of new things. ;-)
Crypto isnt going anywhere, but up.