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NASAA Launches into Wave of Investigations in Cryptocurrency Activities

NASAA Launches into Wave of Investigations in Cryptocurrency Activities

The number of investigations conducted by the Administrators Association this year that are related to cryptocurrency has reached 130. This is a part of the initiatives being taken by the western countries like USA and Canada in order to bring about further regulation in the blockchain industry. 35 enforcement actions have already been taken. NASAA

The number of investigations conducted by the Administrators Association this year that are related to cryptocurrency has reached 130. This is a part of the initiatives being taken by the western countries like USA and Canada in order to bring about further regulation in the blockchain industry. 35 enforcement actions have already been taken.

NASAA president is particularly varying of the new cryptocurrency launched by Facebook, called Libra. He speculates that this new currency might attract more miscreants in the sector. The Administrator’s Association has also come up with a task force that will help in looking into the illegal activities of the ICO industry. It is being said that this newly found task force has many activities and currencies registered.

North American Securities administrators association has taken at least 85 enforcement actions against the ICOs; moreover, the increase in the value of various currencies has rendered them vulnerable to the inquiry by NASAA, in the provinces within USA and Canada.

This new mighty wave of investigation in the crypto activities might lead to a reduction of the illegal activities in the sector, even as it continues to thrive under the pressure of the State Regulation Authorities. The first regulator to have put in place a regulation was The Texas State Securities Board. The steps taken by NASAA in the past months might prove more effective. This operation by NASAA has been termed, “Operation Cryptosweep.”

 

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