‘Blatant’ Securities Abuses With Crypto Waning, SEC Chair Says

The SEC is seeing fewer instances of “blatant violations” of securities laws in the cryptocurrency space, agency Chairman Jay Clayton said.

The crypto community has made progress in understanding how securities laws may apply to digital assets, Clayton said at a financial technology conference in Washington on Oct. 23.

The Securities and Exchange Commission observed a “ton” of problematic crypto investment opportunities during the initial coin offering boom of 2017 and 2018, according to Clayton. Many crypto ventures once thought they could raise funds by blasting out a description of their project and asking for money without verifying information about ...