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ARTICLE · 29 JANUARY 2018

Busy Day For CFTC And SEC Cryptocurrency Regulators: Enforcement Actions, A Public Letter, And Joint Statement

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The CFTC and SEC made numerous headlines Friday in their ongoing efforts to provide regulatory oversight of cryptocurrency markets.

United StatesFinance and Banking
Michael Mavrides
Michael Mavrides
Robert E. Plaze
Robert E. Plaze
Trevor M. Dodge
Trevor M. Dodge
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The CFTC and SEC made numerous headlines Friday in their ongoing efforts to provide regulatory oversight of cryptocurrency markets. The CFTC announced the filing of two civil enforcement actions against allegedly fraudulent cryptocurrency-related investment schemes. The SEC's Division of Investment Management, meanwhile, issued a letter raising concerns about registered investment companies' (including ETFs') investments in cryptocurrencies and cryptocurrency-related assets. And the SEC and CFTC issued a joint statement emphasizing their collective aim to root out fraud in the offer and sale of digital instruments, regardless of whether such instruments are classified as digital "currency," "tokens," or otherwise. (Herein, we refer to this full suite of digital instruments as "cryptocurrencies.")

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