In recent months, members of Congress have introduced a wide variety of bills seeking to create a new federal regulatory regime for digital assets. NASAA, which is an umbrella organization for state and provincial securities regulators in the US, Canada and Mexico, recently submitted a letter to Congress critical of one such bill that lays out a series of arguments more broadly against federal action.
Continue Reading State Securities Regulators Oppose Federal Digital Asset Bill
On August 28, 2018, the North American Securities Administrators Association published a press release with an update on the progress of the coordinated enforcement sweep of the ICO market dubbed “Operation Cryptosweep.”
Continue Reading NASAA Updates Status of “Operation Cryptosweep”
North American Securities Administrators Association (“NASAA”) members from more than 40 jurisdictions across the United States and Canada are working together in “Operation Cryptosweep,” a coordinated series of enforcement actions to crack down on fraudulent initial coin offerings (“ICOs”), cryptocurrency-related investment products and the individuals behind them. NASAA organized a task force of its members in April 2018 to begin these coordinated investigations, which identified hundreds of ICOs in the final stages of pre-launch preparation and other cryptocurrency-related investment products.
Continue Reading Operation Cryptosweep: Regulators in the United States and Canada Crack Down on ICOs