UPDATED 7:09 AM PT — Thurs. May 17, 2018
The chairman of the Securities and Exchange Commission is voicing his opinion about federal regulation of cryptocurrency.
Speaking at a conference in D.C. Wednesday, Chairman Jay Clayton relayed the views of the agency and said existing laws should be enforced on digital currency.
This response comes after the SEC created a scam website marketing a coin they called “howeycoins.”
The platform was used to show how easy it was to build a website and use it to scam investors with discounted coin prices.
The SEC formed a cyber unit to monitor illegal activity and enforce federal law.