• May 31, 2023


All the latest cryptocurrency news

SEC Increases its Control Over Cryptocurrency Companies

ByLouis Adams

Dec 26, 2022
Reading time: < 1 minute

After the collapse of FTX, many US congressmen demanded that the US authorities tighten control over companies representing the blockchain industry.

The Securities and Exchange Commission (SEC) has started to warn investors more often about the risks of investing in crypto businesses whose financial condition is not confirmed by the relevant audits.

The Wall Street Journal has reported that the SEC plans to force all crypto companies to regularly publish reports on the status of their reserves.

Investors who want to be sure that a startup or exchange will not run into problems and will not freeze the withdrawal of funds will be able to use such information.