The US securities regulator on Thursday raised concerns about any investment involving cryptocurrency. The message to the media said that before approving more than a dozen bitcoin-related products and services, the Commission wants answers to its questions.
The head of the US Securities and Exchange Commission wrote letters to two representatives of the trade group's management, which recently voiced several proposals related to cryptocurrency. The letters detailed the commission's concerns about investing in this market.
The commission's management department requires detailed answers to more than 31 questions related to the storage, protection and valuation of bitcoin, as well as the possibility of manipulating its rate. According to the source, the SEC canceled the registrations of several financial companies whose activities were related to the exchange of cryptocurrencies immediately after the regulator raised concerns about such investments. The Commission did not approve the opening of a dozen cryptocurrency open-end investment funds and two crypto exchanges that sought expedited registration.
“There are a number of important issues, primarily related to investor safety, that must be addressed before launching such funds,” Dali Blass, an SEC official, said in a letter. “Until cryptocurrency companies answer security questions, there is no way we can cooperate with them.”
Help:
The SEC was founded under President Roosevelt, and was based on two laws passed in 1933 and 1934. These were the securities law and the stock markets law. Joseph Kennedy became the first head of the SEC. To solve the problems, the SEC chose two vectors of information control.
1. Companies that sell their securities are required to provide all the necessary information, both about themselves and about the trading securities.
2. Brokers and dealers who deal with investors must exercise integrity while prioritizing the interests of investors.
The SEC's primary mission today is to protect the interests of investors.
According to https://www.bloomberg.com
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