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ARTICLE · 03 OCTOBER 2018

US Agencies Issue Multiple Digital Asset-Related Enforcement Orders

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On September 20, 2018, the Securities and Exchange Commission and the Financial Industry Regulatory Authority issued three digital asset-related enforcement orders ...

United StatesCorporate/Commercial Law
A&O Shearman
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On September 20, 2018, the Securities and Exchange Commission and the Financial Industry Regulatory Authority issued three digital asset-related enforcement orders, and the SEC also suspended trading in two securities that track the value of digital assets. The orders mark an uptick in digital asset enforcement from previous months.

Crypto Asset Management, LP

On September 11, 2018, the SEC alleged that hedge fund manager Crypto Asset Management (CAM) had caused its Crypto Asset Fund (CAF) to fail to register as an investment company based on its digital asset investments, marking the first time the SEC has invoked the Investment Company Act of 1940 in an enforcement proceeding against the managing member of a pooled investment vehicle that invests in digital assets.

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