SEC Working on ‘Dozens’ of Cryptocurrency Probes, Official Says

The SEC has “dozens” of investigations open in the cryptocurrency space, a senior agency official said March 15.

The remarks from Securities and Exchange Commission Enforcement Division Co-Director Stephanie Avakian came after media reports in February that the agency sent subpoenas to firms it thinks might be breaking securities laws through their involvement in initial coin offerings. ICOs raised billions of dollars in 2017 by selling digital assets and have faced increasing scrutiny from the commission during the past several months.

“We are very active, and I would just expect to see more and more,” Avakian said at an Investment ...