Manoj B Rawal
Independent Analyst
- WSJ reports SEC is preparing to probe upto 100 crypto related hedge funds
- One among many other regulatory probes in a bid to regulate cryptos
The US Securities and Exchange Commission (SEC) is preparing to examine up to 100 hedge funds that deal with cryptocurrencies, a person familiar with the matter told WSJ on March 22.
The probe is one among many other regulatory probes, being conducted by SEC, CFTC and others in a bid to regulate cryptocurrencies and stop companies from raising money via Initial Coin Offerings (ICOs) which, according to SEC, flout regulatory norms.
Primary aim of the commission via this probe, says WSJ, is to help frame policies to address and regulate cryptocurrencies, apart from finding irregularities or suspicious activities, if any.
The Journal also reported that, although SEC is more likely to probe hedge funds, it may also look at private equities which may hold crypto assets, either directly or indirectly.
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