Cryptocurrency Supervision Will Enter One of SEC’s Priority Areas in 2020

Digital assets along with other innovative financial technologies will be a priority for control in 2020. This is stated in the annual report of the Legal Compliance Review Department (OCIE) of the US Securities and Exchange Commission (SEC).

The regulator intends to monitor the offer, sale, trade and management of digital assets, as well as their compliance with the definition of a security and existing regulatory standards.

Also, verification of cryptocurrency companies registered with the SEC will continue.

“The development of financial technologies, methods of capital formation and alternative data sources require maintaining supervision in this area,” the OCIE emphasized.

At the end of 2019, SEC Chairman Jay Clayton called the agency’s approach to cryptocurrency regulation “balanced” and protecting investors.

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