The Securities and Exchange Commission’s decision to beef up its cryptocurrency enforcement staff could signal new worries for digital asset exchanges and others in the industry, as the agency broadens its view of whether some cryptocurrencies are securities.
The agency said last month that it will add 20 enforcement positions dedicated to crypto, boosting the total enforcement staff focused on digital assets to 50. Those tracking the development say the agency will delve deep, looking for violations among a crop of startup ventures.
More enforcement is definitely coming, experts said, and the SEC has plenty of potential targets, including non-fungible tokens, stablecoins and platforms that might come under the agency’s authority if they trade digital tokens that are securities.
