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SEC Crypto Settlements Spur Expectations of Wider ICO Crackdown

Nov. 19, 2018, 8:52 PM

The cryptocurrency market is reeling after the SEC fined two companies that didn’t register initial coin offerings as securities and allowed investors to reclaim their money.

“There’s a global crackdown coming,” said David Silver, a securities fraud and investment loss attorney from Coral Springs, Fla. “Government wasn’t going to be intimidated by a bunch of libertarians and anarchists -- in the next year or two, we’ll see more than just enforcement actions.”

The Securities and Exchange Commission pointedto the consent decrees and investor reimbursement against Airfox and Paragon Nov. 16 as a roadmap for other crypto firms to follow, ...