WASHINGTON – U.S. state and Canadian regulators have opened “as many as 70 investigations” into cryptocurrency scams, according to The Washington Post.
The North American Securities Administrators Association is set to announce a wide-sweeping series of probes on Monday. The investigations, some of which have already concluded, are aimed at unregistered securities offerings and initial coin offerings that promise significant returns without informing investors of the risks, the Post reported. Regulators have already sent cease and desist letters to several alleged schemes.
(Reporting by Pete Schroeder; Editing by Bernadette Baum)