SEC Report: Examining Cryptocurrency a Priority in 2019 – Bitcoinist.com

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The Office of Compliance Inspections and Examinations (OCIE) of the United States Securities and Exchange Commission (SEC) listed the cryptocurrency market as one of many six focus factors of its compliance monitoring actions for 2019.


Spotlight on the Cryptocurrency Market

According to a report titled “2019 Examination Priorities,” OCIE says it plans to shine the highlight on the goings-on in the cryptocurrency. An excerpt from the report regarding cryptocurrencies reads:

Given the numerous development and dangers offered in this [the crypto] market, OCIE will proceed to observe the provide and sale, buying and selling, and administration of digital belongings, and the place the merchandise are securities, study for regulatory compliance. In specific, by means of excessive-degree inquiries, OCIE will take steps to determine market members providing, promoting, buying and selling, and managing these merchandise or contemplating or actively searching for to supply these merchandise after which assess the extent of their actions.

To this finish, the OCIE plans to look at the actions of companies working in the digital asset market. This examination will cowl sale, buying and selling, in addition to the administration of cryptocurrency belongings. The OCIE additionally plans to pay specific consideration to cryptos deemed to be securities.

Commenting on the method for 2019, Pete Driscoll, Director of the OCIE, stated:

OCIE is steadfast in its dedication to guard buyers, guarantee market integrity and help accountable capital formation by means of danger-targeted methods that enhance compliance, forestall fraud, monitor danger, and inform coverage.

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