The US company, SEC has emerged a campaign by which they want to ‘clean’ the crypto ecosystem of illegal business. This is a pretty huge deal if we think of all the aspects that have to be taken into consideration and about all the issues lately with cryptocurrency.
With the recent movements regarding ICOs that our website has spoken about before, SEC is sending subpoenas for more ICOs.
There are many cryptocurrency representatives that are enjoying the movements issued by SEC. On the legal side, the agency is doing the right thing, even if the ones that are implicated in the ICO industries are not that happy because of the measurements.
In the past month, there was a continuous fight between SEC and the illegal ICOs and of course, the transactions with the coins of those platforms have been ceased for the moment. The subpoenas seems like a good solution and a pretty severe measurement, it is highly necessary. For the moment, there is no exact number for the cited ICOs or of the name of them, but it has been stated that it is an enormous number of platforms involved.
Also, there are rumours that SEC might have a little impact on the cryptocurrency market and on its fluctuations, especially when it comes to Bitcoin and Ethereum, which are the most used digital coins in ICOs according to recent statistics.