SEC Cracking Down: 28 Companies Flagged For Unlicensed Activity
Last Updated: 27 January 2021
The US Securities and Exchange Commission, or SEC, has recently announced that it has flagged a total of 28 companies. The regulator accuses these companies of illegal solicitation of investors without the possession of the registrations required for it. A total of 8 of these 28 companies have been offering digital currency services, as well.
Eight Flagged Firms Doing Business In Crypto
The regulator had revealed through its press release that three of these firms have also been flagged for impersonating genuine firms. A total of six of these flagged companies have allegedly served as fake regulators, as well. In the release, the SEC stated that these firms have all been primarily targeting non-US investors, doing so through the use of misleading information.