Crypto Enforcement on the Horizon as SEC's Fiscal Year Draws to a Close
CryptoNewsTerminal Staff12 Sep, 2024
Crypto Enforcement on the Horizon as SEC's Fiscal Year Draws to a Close
The Securities and Exchange Commission (SEC) is expected to continue its recent string of cryptocurrency enforcement actions in the coming weeks, according to Blockchain Association chief Kristin Smith. The SEC's fiscal year ends on Sept. 30, a possible factor for this expected surge in enforcement, said Smith. The SEC has recently brought an enforcement action against eToro USA for failing to register its crypto asset lending program. The company agreed to pay $1.5 million and was barred from offering certain crypto transactions to U.S. customers. Despite the ongoing enforcement actions, Smith said, the SEC has reaffirmed that bitcoin and ether are not securities. However, she emphasized the need for clear regulatory guidelines for the crypto industry in the United States.
