The North American Securities Administrators Association
("NASAA") reported that through its Operation
Cryptosweep Initiative, regulators opened "130 new
investigations into questionable cryptocurrency-related investment
offerings and have 35 pending or completed enforcement actions
since the beginning of this year."
NASAA stated that Operation Cryptosweep, which formed in April
2018, "has resulted in 85 pending or completed enforcement
actions involving ICOs or cryptocurrency-related investment
products and approximately 330 inquiries or investigations by
securities regulators from U.S. states and Canadian
provinces."
NASAA also stated it is releasing a new video for retail
investors on common crypto investment schemes and how to guard
against them. The video raises red flags for investors regarding
volatility, a lack of recourse and the untraceability of many of
these crypto-related investments.
