SEC’s Division of Examinations issues Risk Alert on digital assets

SEC’s Division of Examinations issues Risk Alert on digital assets

The Risk Alert seemed to take particular aim at broker-dealers, who have been "inadequate" in their AML compliance. The Security and Exchange Commission's Division of Examinations published on Friday a blueprint for investment managers and institutions on how the division will inspect the handling of crypto assets, or “digital asset securities,” moving forward. The division (formerly the Office of Compliance Inspections and Examinations) is the second-largest wing of the SEC and is tasked with overseeing securities industry players to ensure regulatory compliance. Targeted toward....


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SEC Issues Bitcoin Investor Alert

It wouldn't be a complete week without some sort of government agency issuing a warning on bitcoin. And that is exactly what the United States Securities and Exchange Commission has done. The agency - who is responsible for enforcing securities laws - released this investor alert on Wednesday warning citizens of the perils of bitcoin. The alert, which starts with a primer of the digital currency makes the following points:"Investments involving Bitcoin may have a heightened risk of fraud." "Bitcoin users may be targets for fraudulent or high-risk investment schemes." "Using Bitcoin may....